Bleak China autos outlook triggers raft of profit warnings | Reuters


Auto suppliers Johnson Electric Holdings (0179.HK) and Sensirion (SENSI.S) slashed their earnings forecasts on Thursday, blaming a slowdown in car sales and pessimism about the prospects of a Chinese car sector recovery.

The news is the latest to signal weaker global industrial activity and ripples from a trade war that has already forced China’s Geely (0175.HK) Swiss engineering company ABB (ABBN.S) Germany’s Aumann (AAGG.DE) and chemicals giant BASF (BASFn.DE), to warn of turbulence ahead.

Source: Bleak China autos outlook triggers raft of profit warnings – Reuters

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