China's Car Dealerships Facing Staggering Losses of Almost $20 Billion in 2024

The automobile sector in China is going through the worst financial crisis ever, as car dealerships across the country stare at a total loss of almost US$20 billion this year. That is an astronomical figure and a strong blow to an industry that was just trying to recover from the residual effects of the COVID-19 pandemic, disrupted supply chains, and the slowdown in general economic growth.

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