More numbers, some falling 50%

WSJ:

Beginning around 1990, China’s auto market grew continuously from virtually nothing into a behemoth, eclipsing the U.S. by 2009 and posting many years of double-digit-percentage growth along the way. An expanding middle class fueled demand for new vehicles, prompting foreign auto makers to create joint ventures with locals and invest heavily in building new plants. The total number of cars owned by China’s 1.4 billion citizens reached 260 million last year.

Foreign and domestic auto makers, habituated to growth in a market where their biggest challenge was building factories quickly enough to meet demand, are hurting. General Motors Co. posted its biggest-ever China sales drop last year and warned of a tough 2020. Ford Motor Co’s annual sales fell for the third year in a row, by 26% to 570,000 vehicles — less than half the nearly 1.3 million vehicles it sold at its peak in 2016.

Must be the Orange Man wreaking international havoc. Have to check CNN to find out…

One Response to “More numbers, some falling 50%”

  1. feeblemind Says:

    Hard to see how GDP is growing 6% when car sales are taking that kind of hit.

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