ZZ SALES SOAR, BUT CHINA AUTO MARKET IS HURTING.# ChinaStock - 证券中国
w*y
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A 24% surge in auto sales in China so far this year is
masking a lot of pain among automakers there, according
to this weekend’s issue of Business Week.
The magazine notes that OEMs have been forced to
slash prices by as much as 15% in China because of a glut
of vehicles. It says falling prices and rising materials costs
have squeezed gross margins industrywide to 8.8% in the
first half of this year vs. 15.1% last year.
BW says the underlying problem is that too many
carmakers, including foreign
masking a lot of pain among automakers there, according
to this weekend’s issue of Business Week.
The magazine notes that OEMs have been forced to
slash prices by as much as 15% in China because of a glut
of vehicles. It says falling prices and rising materials costs
have squeezed gross margins industrywide to 8.8% in the
first half of this year vs. 15.1% last year.
BW says the underlying problem is that too many
carmakers, including foreign