Falling car sales in China caused by global trade tensions have created ructions for the world’s leading carmakers, with Volkswagen reporting a sharp fall in sales and Jaguar Land Rover announcing a plant shutdown because of reduced demand.
The German carmaker reported a10 per cent fall in VW sales during September in China, the world’s largest car market, contributing to a global sales drop of a fifth for the marque.
In India, Tata Motors lost nearly a sixth of its market capitalisation a day after its UK subsidiary JLR announced a two-week shutdown at its largest factory because of weak demand.
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