China Heads Global Auto Industry Revival: 4 Stocks in Focus
The China auto market has finally risen from ashes. The auto sector in China had been battling a downturn since July 2018 owing to tighter emission standards, trade tensions, increasing popularity of ride-sharing platforms and sluggish economy. The coronavirus pandemic — originated in Wuhan — further added to the woes, as was evident from the biggest ever decline of around 80% year over year in February. However, with effective control of the virus, China is now at the forefront of global auto market recovery.
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Being the first country to emerge out of the deadly coronavirus, lockdown in many cities in China got lifted when other cities in the world were either in the shutdown mode or entering it. Once business activities in China returned to normalcy after the authorities relaxed travel restrictions and lockdowns, vehicle sales in the country started picking up. Auto sales in China witnessed year-over-year
