Auto pessimism could be over-revved in China

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Auto pessimism could be over-revved in China
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China's auto sales slumped by more than 10% compared with the first half of 2018. Chaos reigned amidst new rules, while Beijing remained reluctant to offer stimulus. But policy pressure is uneven, and the worst could be past: KatrinaHamlin

Chinese battery giant Contemporary Amperex Technology on July 12 said net profit had grown as much as 150% year-on-year in the first half of 2019, more than expected.

China sold 12.3 million vehicles in the first half of 2019, 12.4% less than a year earlier, according to the China Association of Automobile Manufacturers, Reuters reported on July 10. The country is likely to see vehicle sales drop again this year as opposed to earlier expectations for zero growth, the association said.

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