China’s auto industry could force many manufacturers to consolidate
Car makers had already mounted themselves for an era of slower growth amid a broader economic slowdown in China, as well as an official clampdown on corruption and lavish shows of excess. But Chinese Automakers could now be facing headwinds from a plummeting stock market, dominated by retail investors who could be left out of pocket.
A traffic jam in Beijing as the country's automobile industry faces long-term headwinds which may force consolidation in the industry. Photo: Xinhua