Daimler’s Reverse Bodes Ill for European Auto Sector – Wall Street Journal
China worries have halted stocks in European luxury auto makers in their tracks. That even Daimler has now stalled suggests deepening concerns for the sector.
Shares in BMW and Volkswagen, Audi’s parent company, plunged this year after the companies reported softening Chinese sales growth. In July alone, BMW unit sales fell 7% while Audi’s dropped by 13% year on year. But Daimler had bucked the trend. During the same month, Daimler’s…