In China, the car industry is in bad shape and keeps on plunging.China is considered as the world’s largest automobile market !When a car starts to cough in China, the whole global car industry is catching a cold.And not just slightly !In May, the market went down 16%.
In June, the decline went on with a 9,6% fall.
According to the CAAM, the Chinese Data Official Research Institute, although everyone expected the market to rise this year, the estimations have been revised this time, with a clear bull market.This first half year, the fall in sales reached 12,3% as the market had already contracted nearly 3% in 2018.This is definitely bad news for cars but it has a global impact.This is the whole automobile model which is sinking before our eyes.Only the sales of electric cars are increasing… thanks to national subsidies !This is the end of the world for cars.Charles SANNAT
Source: insolentiae – Voir les précédentes interventions de Charles Sannat
