Contra Magazin: the world car industry is going through a severe crisis over the last 10 years

Global auto industry puts antirecord of which the world has not seen since 2008, writes Contra Magazin. A decade of low interest rates and the constant stimulation of demand has led to the impoverishment of consumers and in turn a drop in demand and production indicators. And signs that the situation will soon improve, no, the newspaper notes.

Contra Magazin: мировой автопром переживает тяжелейшей кризис за последние 10 лет

ReutersДесятилетие low interest rates and constant demand stimulation led to the impoverishment of consumers and the fall in the global automotive industry, writes Contra Magazin.

The drop in demand in the automotive market have led to reduced production including in such manufacturing centers as the USA, Germany, India and China. Further decline may lead to stagnation of global growth, experts warn. They predict a record decline in sales, which was not observed since the last financial crisis. From 2017 to 2018, they decreased from 81.8 million to 80.6 million In 2018 sales to decline another 4%, reaching a value of 77.5 million Is the biggest decline since 2008, the newspaper notes. The main culprit for the decline is called China. Compared with the first ten months of 2018 for the same period this year, sales fell 11 percent. And indications are that the situation improves by 2020, no. In the United States and Western Europe this year is expected to fall 2%. In Brazil, Russia and India — at least 5.5%.

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