Chinese Car Sales Seen Plummeting – Barron’s
Global auto executives have begun to talk down their prospects in China. In reporting lower second-quarter profits last week, Bayerische Motoren Werke said China’s growth was “normalizing” and hurting overall corporate earnings, and even solidly rising Toyota Motor said it “can’t be too optimistic” about future sales. But this bit of economic pessimism may understate the size of the problem local and global car makers face.
Chinese car sales didn’t grow in June and are expected to have fallen at an unprecedented…