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Home / David Stockman's Contra Corner / Carmageddon Goes Global—-European, Chinese Auto Sales Plunge

Carmageddon Goes Global—-European, Chinese Auto Sales Plunge

Summary:
The global carmageddon wave is spreading: just two weeks after the US reported its worst auto sales in years - now ex dealer incentives, and just days after the latest Chinese data showed passenger-car purchases by dealerships plunged 12% from a year earlier to just over 2 million units in September, the biggest drop on record... https://www.zerohedge.com/news/2018-10-17/european-car-sales-plunge-23-dragging-market-lower

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The global carmageddon wave is spreading: just two weeks after the US reported its worst auto sales in years - now ex dealer incentives, and just days after the latest Chinese data showed passenger-car purchases by dealerships plunged 12% from a year earlier to just over 2 million units in September, the biggest drop on record...

https://www.zerohedge.com/news/2018-10-17/european-car-sales-plunge-23-dragging-market-lower

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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