China Auto Sales Spiral Down, But This Time It’s Different: Government Refuses to Bail Them Out with Big-Fat Incentives

by Wolf Richter
Wolf Street

Here’s why. The strategy is a game changer with global impact.

Geely, China’s largest domestic automaker, disclosed that deliveries plunged 29% in June compared to a year ago, and that they’re down 15% in the first half. And it slashed by another 10% its already lowered forecast for deliveries for the whole year. This type of disclosure is now a regular feature of China’s dramatic auto slowdown.

New-vehicle sales in China dropped 9.4% in June, compared to a year ago, to 2.06 million vehicles, according to the China Association of Automobile Manufacturers (CAAM). It was the 12th month in a row of year-over-year declines.

Continue Reading at WolfStreet.com…

Comments are closed.