China: A Mixed Bag Turns Very Ugly | ZeroHedge

Blogman's Notes: On June 7 I posted a video titled 'Auto Sales Crashing'. The following report on ZeroHedge.com is an update on the Chinese auto market, and how over-production by auto companies is the main reason why they have been reporting stellar numbers, not because of actual sales. Auto sales in India, which was imagined by auto companies to be the next big luxury car market have also slumped. And unless car companies practically gave cars away in the US and Canada at below cost pricing, the auto industry would be dead, dead, dead...Another example of the phony numbers that are floating around everywhere. These lying figures speak to the diseased condition of the human soul; lies, lies, and more lies everywhere, especially from those high up on the food chain. The world is run by liars and no wonder, the Bible tells us that their god is the father of LIES!
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• China: A Mixed Bag Turns Very Ugly | ZeroHedge

2010 was a magical year in China. Among the world records: 18 million new vehicles sold. Due to unprecedented stimulus, sales had skyrocketed 33% that year and 54% in 2009—mind-boggling growth rates which catapulted China to the number one new-vehicle market in the world, far ahead of the US which had never sold that many units in a single year, not even during the halcyon days before the financial crisis. In terms of passenger vehicles (excluding buses and trucks), 14.5 million units were sold in China that year, compared to 12 million in the US. Alas, in 2011, sales inched up only 2.5% to 18.5 million vehicles—though foreign brands still did well. 2012 may turn out to be even tougher. And now, the problem is production.
Read More: China: A Mixed Bag Turns Very Ugly | ZeroHedge

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