“Worries about a slump in the global automotive industry have risen along with an outlook that global demand for new cars could shrink by more than 4 million units in 2019. While dwindling consumer confidence is impacting demand in the US and Europe, the is an increased risk of a slowdown in the Chinese auto market is a key reason for concern. The Chinese market was the biggest, accounting for 28% of global production last year. However, as the trade war between the US and China intensifies, Chinese auto sales have now posted a worst-ever monthly decline. Sales tumbled 16.4% in May from the same month a year ago, the China Association of Automobile Manufacturers (CAAM) announced. It marked the eleventh consecutive month of decline and followed falls of 14.6% in April and 5.2% in March. Much worse, it is not just internal combustion engine vehicles that are experiencing a downturn in sales, but the growth in the new energy vehicle segment is also declining.” – Liz Lee