Why China is getting tougher for Ford, GM and other automakers
It is not a great time to sell cars in China.
The world's largest car market is experiencing what some industry watchers say is its biggest slowdown in two decades. Foreign automakers, such as General Motors have so far been able to weather the storm, but others, such as Ford, have watched their business in the region deteriorate.
China is the world's largest car market, with about 28 million vehicles expected to sell in 2018, according to IHS Markit. That is compared with about 17 million expected in the U.S., the world's second largest car market.
Auto sales in China fell 14 percent in November over the same month in 2017, said the Chinese Association of Automobile Manufacturers. This has continued a general downward trend in the country that began in July, but the November declines are the worst so far this year.
The Chinese government has reportedly considered taking action to reverse course, and automakers are unrolling plans to revamp lineups and devote more attention to one of the last great growth opportunities in the world.
"This is the first sustained downturn in memory," said Michael Dunne, CEO of ZoZoGo, a firm that advises automakers on doing business in China. "We would have to go back to the Asian financial crisis in 1998-1999 to see the last time China had flat or down sales for four months or more in a row."
https://www.msn.com/en-us/money/companies/why-china-is-getting-tougher-for-ford-gm-and-other-automakers/ar-BBRo20D?li=BBnbfcN
You mean the Trump tariffs aren't helping?
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