Red Ponzi Sliding: Auto Sales Down 12 Straight Months & Off 12% In First Half

Geely, China’s largest domestic automaker, disclosed that deliveries plunged 29% in June compared to a year ago, and that they’re down 15% in the first half. And it slashed by another 10% its already lowered forecast for deliveries for the whole year. This type of disclosure is now a regular feature of China’s dramatic auto slowdown. New-vehicle sales in China dropped 9.4% in June, compared to a yein red):