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Not a Single Car Was Sold in Shanghai Last Month

From bnnbloomberg.ca

For evidence of just how tight Shanghai’s lockdown has been, consider this: not a single car was sold in the city last month. The majority of the city’s 25 million residents were mostly confined to their homes or residential compounds in April as part of a sweeping lockdown to stamp out the nation’s worst Covid outbreak since the virus emerged in Wuhan more than two years ago. Almost all dealerships in the city were closed during the month, the Shanghai Automobile Sales Association said in a statement Monday, when it highlighted the zero sales figure. In April last year, 26,311 vehicles were sold in the city, ... (full story)

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  • Category: Fundamental Analysis