US Automaker Panic Button Looms After China’s Top Carmaker Warns Of “Grim” Outlook
by Tyler Durden
ZeroHedge.com
08/27/2015
Just two weeks ago we explained in a few simple charts why US auotmakers have a major problem looming over them. Today, as Reuters reports, that “if we build them, they will come” strategy has imploded as China’s largest automaker warns “the domestic market situation in the second half of the year remains grim.” With Q2 US GDP driven by a massive inventory surge, and the majority of that from autos, any hope for a sales rebirth to burn through that over-burden is a long-lost dream now as SAIC sees little to no growth over 2014.
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