Visitors look at an electric car at the Shanghai Auto Show in China. File/Agence France-Presse
Steep drops in auto sales for China and India over recent months are serving as a painful reminder that the world’s two most populous markets are not living up to the earlier heady expectations.
Auto sales in China fell 8.2 per cent in 2019, data from the country’s biggest auto industry association showed on Monday. Total auto sales in the world’s biggest auto market fell 0.1 per cent in December from the same month a year earlier,
Passenger car retail sales in China, the world’s biggest auto market, fell 80% in February because of the coronavirus epidemic, one of the country’s industry associations said.
Europe's biggest bank said it had been hit by falling interest rates disruption caused by the coronavirus and political tensions between the US and China.
Brent crude futures slid 27 cents, or 0.6%, to $43.25 a barrel by 0642 GMT. US West Texas Intermediate (WTI) crude futures were down 34 cents, or 0.8%, at $39.93.
The pan-European STOXX 600 index were up 0.1% at 0714 GMT, with technology, automakers and oil & gas firms leading the gains.