Chinese car dealer collapse signals another difficult year for the Chinese market

Chinese car dealer collapse signals another difficult year for the Chinese market

the Sun Daily - World·2024-01-24 13:00

A Chinese automobile dealership that managed up to 80 locations in the southern province of Guangdong declared bankruptcy last week, indicating that the fierce rivalry that has roiled the world’s largest auto industry may linger another year.

On Jan 17, salespeople from Guangdong Yongao Investment Group informed consumers that the firm had collapsed and that orders had been cancelled.

This was while staff were waiting to be paid outstanding salaries, according to Chinese media outlets.

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