Traders have been abandoning Chinese auto stocks as a price war started by Tesla and BYD spread across the whole industry, a sign of weak consumer sentiment amid pessimism about the pace of economic recovery.
China s latest efforts to boost sales of automobiles, home appliances and other big-ticket items are expected to stimulate consumers appetites, spur a consumption recovery amid the pandemic, and stabilize economic growth.
China's automotive industry is speeding up its recovery from the COVID-19 impact as vehicle production in the country has returned to levels seen prior to outbreaks earlier this year.
Auto sector revs on COVID recovery--China Economic Net en.ce.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from en.ce.cn Daily Mail and Mail on Sunday newspapers.