China Car Sale Growth Slows To Halt
Every car manufacturer in the world wants to do well in China–the world’s largest market. But, sales growth there slowed to an improvement of 2.5% to 18.5 cars and light trucks. The news will dash the hopes of car companies…
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Every car manufacturer in the world wants to do well in China–the world’s largest market. But, sales growth there slowed to an improvement of 2.5% to 18.5 cars and light trucks. The news will dash the hopes of car companies that hoped to make up for weak EU sales and modest ones in the US and Japan.
VW and GM (NYSE: GM) hold tight at the top of the market. Local manufacturers have become more aggressive as they try to hold off international rivals. That does not leave much of a market for the rush of Japanese, South Korean, US, and European companies that would like to take market share.
The one bright spot is that luxury car sales among China’s upper classes have risen quickly. BMW and Mercedes have been beneficiaries
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