:::::::::: Global Trans Center Corp ::::::::::
 
 
 



 
 
Home > Customer Center > News & Notice
ADMIN 2018. 12. 19.  
LIST  MODIFY  DELETE  WRITE  REPLY 
   제목: World’s Largest Car Market Faces Historic Drop
글쓴이: gbtrans   글쓴이 IP: 14.52.203.111

World’s Largest Car Market Faces Historic Drop

October 12, 2018



Sales to dealerships decline for third month in September


Trade war, economic woes hurting sales at GM, VW, Honda


China’s car sales fell for a third straight month as a slowing economy and an intensifying trade dispute with the U.S. spooked consumer demand, adding to evidence that the decades-long expansion of the world’s largest market is grinding to a halt.



Purchases of passenger vehicles by dealerships declined 12 percent to 2.06 million units in September, the China Association of Automobile Manufacturers said in a statement on Friday. That leaves the market up just 0.6 percent for the first nine months of the year, and the association said fourth-quarter comparisons from 2017 are challenging. An annual drop would be the first in at least two decades.




A slowdown in China -- where automakers poured in billions of dollars in the past 20 years to bulk up factories -- leaves the industry struggling to find growth anywhere else on the planet. A trade war with the U.S. has already prompted luxury carmakers BMW AG and Daimler AG to warn about lower profits while Chinese consumers staying away from showrooms amid a sputtering economy forced Jaguar Land Rover to shut a factory temporarily.




The slump may be the biggest auto manufacturers have ever experienced in China, said Steve Man, a senior cars analyst at Bloomberg Intelligence in Hong Kong. Weaker brands may be hit disproportionately, and such companies will need to cut prices to drum up sales, Man said. Some carmakers may also be forced to shutter factories to reduce inventories and lower costs, he said.


The slowdown comes just as global brands are making a bigger push into China, helped by the government opening up the economy. BMW on Thursday revealed a $4.1 billion deal to secure control of its Chinese joint venture, becoming first automaker to take advantage of China’s policy to let foreign companies own a majority holding of their local partnerships.

The German luxury-car maker is also among Western brands still boosting manufacturing capacity in China and expand local production of models including electric cars. Tesla Inc. is pushing ahead with plans to set up production in China to gain a bigger slice of the world’s largest electric-vehicle market.

General Motors Co., the largest U.S. carmaker, reported a 15 percent drop in China deliveries for the three months ended Sept. 30, its first quarterly report since the trade tensions with the U.S. began escalating in July. Volkswagen AG and Honda Motor Co. also reported declines in deliveries.






Demand has also been hurt by the phasing out of a rebate on purchase tax that was in place through last year. China’s car dealers are now pushing the government to come up with fresh measures to help spur demand, including changes to the way value-added tax is levied on used cars.

Selected articles from Bloomberg
LIST  MODIFY  DELETE  WRITE  REPLY 





전체글 목록 2018. 12. 19.  전체글: 710  방문수: 457282
710   Oil Sinks to One-Year Low as Equity Slump Adds to Supply Fears  gbtrans
709   Central bank joins wage worries gbtrans
708   Convertible laptops attracting consumer interest in Korea gbtrans
707   OPEC Agrees to Larger-Than-Expected Output Cut With Allies, Delegates Say gbtrans
706   The Biggest Political Risks to the World Economy in 2019 gbtrans
705   Stocks Decline Before G-20; Treasuries Edge Higher: Markets Wrap gbtrans
704   What Oil at $50 a Barrel Means for the World Economy gbtrans
703   Lion Air Crash Report Due Next Week, Boeing 737 Max in Focus gbtrans
702   Goldman Says It's Time for Equity Investors to Boost Their Cash gbtrans
701   Citigroup Sees U.S. Dollar Topping Out in 2019 gbtrans
700   Asia Stocks Drop as Oil Seeks Floor; Pound Rises: Markets Wrap gbtrans
699   These Products Show How Hard It뭠l Be to Beat China in Trade War gbtrans
698   LG Chem hires 3M vice chair as new head gbtrans
697   JP Morgan, Citibank under probe over alleged forex rigging gbtrans
696   Samsung’s Q3 profit up 20.9% gbtrans
695   Johnson Controls seeks more building management deals gbtrans
694   Google taxes in focus as audit raises issues gbtrans
693   PewDiePie is YouTube뭩 most-subscribed channel. He뭩 about to be dethroned gbtrans
692   Amazon met with ICE officials over facial-recognition system that could identify immigrants gbtrans
691   Inflation Creep Is Real, Morgan Stanley Says gbtrans
690   Tencent Faces New Rivals Just as It Starts to Get Anti-Social gbtrans
689   Paul Allen, Billionaire Who Co-Founded Microsoft, Dies at 65 gbtrans
688   World’s Largest Car Market Faces Historic Drop gbtrans
687   Nordhaus, Romer Win 2018 Nobel Prize in Economic Sciences  gbtrans
686   Hong Kong's Economy Gets Stuck Between U.S.-China Trade War  gbtrans
685   Indonesia's Weak Currency a Source of Strength, World Bank Says  gbtrans
684   Jack Ma Cedes Alibaba Licenses. Investors Won’t Get Control  gbtrans
683   After Settling With SEC, Musk Tries to Answer Other Question  gbtrans
682   Hacker to Live-Stream Attack on Zuckerberg뭩 Facebook Page  gbtrans
681   iPhone XS Buyers Undeterred by Eye-Watering Prices, Few Upgrades  gbtrans
RELOAD VIEW DEL WRITE
1 [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] [20] 24