Another news from China, very alarming, considering how many industries work in the auto industry.
Retail sales of cars in China in April decreased by 16.6% compared with the same month a year ago. The double-digit decline became the “norm” - it followed the reduction in March by 12% and in February by 18.5%.
In general, the market decline has been going on for 11 months in a row.
If this reflects a decline in the domestic market solvency, then the process will also affect other durable products, such as housing.