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China s 2020 auto sales fall for third year amid coronavirus
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FILE PHOTO: Even before the coronavirus hit, demand was hurt by consumer unease about possible job losses due to a slowing economy
(REUTERS)
. Updated: 13 Jan 2021, 07:08 PM IST AP
Sales declined 6% compared with 2019 to 20.2 million, according to the China Association of Automobile Manufacturers. Sales of commercial vehicles rose 18.7% to 5.1 million
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BEIJING: China’s sales of SUVs, minivans and sedans fell for a third year in 2020 as the coronavirus hurt already weak demand in the industry’s top global market, an industry group reported Wednesday.
Sales declined 6% compared with 2019 to 20.2 million, according to the China Association of Automobile Manufacturers. Sales of commercial vehicles rose 18.7% to 5.1 million.
poor s and fitch and moody s began to downgrade their credit rating. in december last night they cut nearly $8 billion from its budget, higher taxes are expected to bring in $6.6 billion. the global downturn may have put the brakes on ireland s economy but china is revving its engines as they get ready to take on the word market. we re back after the break with a look at one company that s driving china s upcoming car boom. coming up next on world business today.
here, cheryl, thank you for that. martha: and until we have some sort of new manufacturing business in this country that will drive new jobs, drive new exports, you know, we ll need something like that. bill: you are right about that. martha: and you know, here s another stunning bit of news for you, bill, the global downturn hitting europe. very hard. in portugal that are worries of growing debt threatening a political crisis there. lawmakers will vote today on a finance law that would provide more funding for parts of their nation and would also add to the budget deficit. sound familiar? at a time when investors are worried about portugal s ability to pay back the debt. sounds familiar, too. a vote to pass the bill would also be a big defeat for the socialist government trying to maintain power there. a similar scenario, you know, in terms of. bill: portugal, all over europe, too. martha: and whether or not you can afford to keep. bill: it is dragging us down and a quick note from ir
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