Steep drops in auto sales for China and India over recent months are serving as ...
BEIJING - Steep drops in auto sales for China and India over recent months are serving as a painful reminder that the two world’s most populous markets are not living up to earlier heady expectations.
The slump is exacerbating problems of excess capacity, with factory utilization rates at China plants for many automakers estimated below break-even point. Last year, Suzuki Motor Corp became the first big foreign car manufacturer to shut up shop in the country. Auto sales in Asia-Pacific, estimated at around 43-44 million vehicles last year, are expected to fall 2-3.5% this year after declining roughly 1% in 2018, data from IHS Markit and LMC Automotive shows.
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