AUTO INDUSTRY — ESTABLISHED MANUFACTURER SALES SHRINK AS BARRIERS TO ENTRY COME TUMBLING DOWN

  • Tesla announced on Tuesday that it is producing 1,000 cars per week at its Shanghai plant.
  • The manufacturing base, which was a greenfield site less than 12 months ago, provides Tesla with a foothold in the all-important China mainland market.
  • On Monday, the global sale of new cars was reported to be contracting. In the biggest drop since 2008, total sales for 2019 are forecast to be reduced by 3.1 million.
  • The auto sector is seen as the main drag on the manufacturing sector, which is in turn seen as the main drag on global economic growth.

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