Global Auto Sales Expected To Crash More Than After The Financial Crisis | Zero Hedge
The global auto industry continues to deteriorate, namely due to broke consumers after a decade of low-interest rates and endless incentives.
The auto slowdown has sparked manufacturing recessions across the world, including manufacturing hubs in the US, Germany, India, and China. A prolonged downturn will likely result in stagnate global growth as world trade continues to decelerate into 2020.
The Fitch Ratings economics team published a new report earlier this week, first reported by CNBC, outlining how global auto sales are expected to crash at a rate not seen since the last financial crisis
Tossing in 1 TRILLION per year in QE fiat money to keep the downturn from happening is not going to work much longer. You cannot fight the tide with a child’s sand shovel and bucket.