Hyperdrive
China’s First Car Slump in Decades Puts Weakest Brands at Risk
- Weaker ones may disappear, Beijing Automotive’s Xu Heyi says
- China’s auto market contraction has continued into 2019
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China’s slowing car market may spell the end for some of the country’s worst-performing manufacturers, said the head of one of the country’s biggest state-run automakers.
The sales decline is set to trigger consolidation among local automakers and the disappearance of certain brands, Beijing Automotive Group Co. Chairman Xu Heyi told reporters at the Geneva auto show.