German industrial production fell in April 3.4% yoy
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From what I’ve heard, low sales in China.
Because the Chinese economy is not growing as fast as it used to?
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Well the problem is that sales in China have actually gone down. Daimler had growth in Europe but it still has lower overall ytd sales than last year cause of China (have read this today https://www.stuttgarter-nachrichten.de/inhalt.daimler-verkauf-von-mercedes-benz-stockt-im-mai-weiter.83d09c5d-1079-4021-b144-2e4cbdec09e3.html …)
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'Last year, the country imposed quotas on carmakers, requiring them to sell a percentage of hybrid and all-electric vehicles, or face heavy fines. Domestic manufacturers may be in a better position to fulfil the huge Chinese demand for all-electric cars.'https://www.handelsblatt.com/today/companies/automotive-crisis-germanys-car-industry-faces-a-perfect-storm/24026414.html …
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