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China Is Sending Its World-Beating Auto Industry Into a Tailspin
An anonymous reader quotes a report from Reuters: On the outskirts of this city of 21 million, a showroom in a shopping mall offers extraordinary deals on new cars. Visitors can choose from some 5,000 vehicles. Locally made Audis are 50% off. A seven-seater SUV from China's FAW is about $22,300, mor...
An anonymous reader quotes a report from Reuters: On the outskirts of this city of 21 million, a showroom in a shopping mall offers extraordinary deals on new cars. Some retailers register and insure unsold cars in bulk, a maneuver that allows automakers to record them as sold while helping dealers to qualify for factory rebates and bonuses from manufacturers. They stem from government policies that prioritize boosting sales and market share -- in service of larger goals for employment and economic growth -- over profitability and sustainable competition.
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