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Thursday, January 27, 2022

China New Car Sales Crash 37% In 4th Week Of June

June does not appear to be shaping up to be the month where Chinese auto sales "bounce back". Dealing with recessionary headwinds pre-Covid, the world's largest auto market has been decimated by the effect of the pandemic and doesn't look to be leading the world to any type of meaningful recovery any time soon. Overnight…

China New Car Sales Fall 10% Year-Over-Year And 20% Sequentially For The First Week...

It's going to be tough to peddle the narrative that things are back on an upswing with the auto industry in China after retail car sales fell 10% year over year - but more importantly 20% from the same period in May - in the first week of June. This comes after what looked like the…

Auto Sales Plunge 33% In May, Set For Worst Year Since 2009

US auto sales are expected to continue their historic plunge in May, further pressuring an industry that is on the brink of all out collapse due to the pandemic lockdowns, plunging used car prices and suffering from a pre-virus recessionary environment. Sales figures for May are expected to fall 33% to just 1.05 million units,…

China Auto Sales Fall 5.6% YOY In April Despite Sizeable Bounce Back From March

The auto market in China is a widely watched economic gauge and leading indicator for the rest of the world, not only because the country is the number one seller of vehicles worldwide, but now also as a litmus test as to how the country's coronavirus re-opening is faring. For now, despite a questionable miraculous-looking rebound, sales…

Retail Sales Were Bad; The Reality Is Catastrophic

Last week's retail sales print was - just like the rest of recent economic data - dismal, with the year-over-year drop of 6.2% the largest since September 2009. Alas, it appears that the government data may have dramatically underrepresented the full severity of the recent plunge.  As a reminder, the Census Bureau takes unadjusted numbers…

Car Sales In China Crash 40.8% YoY In March

While China continues to fake its economic recovery, pretending to reopen businesses, only to figure out it's facing a second coronavirus wave, new stats from China Passenger Car Association (CPCA) detailed some disturbing realities the country continues to face: crashing car sales in March.  CPCA data showed car sales in March plunged 40.8% from a year earlier to…

After 79% Sales Crash In February, China Automakers Beg Government For Bailout

We had been reporting China's February auto sales numbers on a week by week basis, so Zero Hedge readers knew they were going to be ugly for the month. They just didn't know how ugly. Industry wide, sales fell 79% in February, marking the biggest ever monthly plunge on record, according to Reuters.  And the industry is…

Chinese Auto Sales To Face “Big Downward Pressure” In 2020

China's Miao Wei, Minister of Industry and Information Technology, had some bad news for the Chinese auto industry on Monday. Wei says that the industry still faces "big downward pressure" and he predicted sales of just 25 million units for the year, according to Bloomberg. Recall, sales for 2019 totaled 25.769 million units. Sales of just 25…

Virginia Gun Sales Soar As Dems Consider Draconian “Assault Weapons” Ban

Ever since Virginia's Democrats retook the state assembly and Senate in November, Democratic Gov. Ralph "blackface" Northam and the legislature have been gearing up to pass a draconian gun control bill. Unsurprisingly, many Virginians feel strongly about preserving their second amendment rights, and the state has traditionally enforced a more permissive stance toward firearm ownership.…

SEC Investigating BMW For Using “Sales Punching” To Potentially Inflate Sales Numbers

While Tesla continues to waltz around regulators, breaking any and all securities laws it wants to, underreserving its warranty liabilities and allowing its self-driving cars with human beta testers to slam into inanimate objects before bursting into flames, regulators have decided to instead pay attention to BMW. It was reported yesterday that the SEC has…

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