China’s Stock-Market Rout Puts Car Sales in ‘Meat Grinder’
China’s Economy Is Slowing Down, Getting Old: Blain
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Automakers in China are finding themselves in a “lose-lose situation” after a world-beating stock-market boom that diverted funds away from purchases turned into a bust, further denting demand in the world’s largest car market.
An increasing number of car buyers in China are canceling their purchases and risking forfeiture of their down payments after a stock-market rout that has erased about $3.2 trillion in value, according to Cui Dongshu, secretary-general of China’s Passenger Car Association.