40 million people in China are related to Auto Industry
40 million people in China are related to Auto Industry
The auto industry plays a crucial role in China’s economy. More than 40 million people in the country rely on the sector for jobs, either directly or indirectly. The industry generates more than $1 trillion in revenue each year, roughly 10% of China’s manufacturing output.
![[SALES] China Annual Car Production & Sales (25 million in 2019)](https://www.wautom.com/wp-content/uploads/2020/01/image-103-200x120.png "[SALES] China Annual Car Production & Sales (25 million in 2019)")
China is giving cash to car buyers to revive sales crushed by the pandemic
The auto industry plays a crucial role in China’s economy. More than 40 million people in the country rely on the sector for jobs, either directly or indirectly. The industry generates more than $1 trillion in revenue each year, roughly 10% of China’s manufacturing output.
A healthy Chinese car market is also important to the rest of the world. Global automakers like Volkswagen (VLKAF) and General Motors (GM) sell millions of cars in China — each of those companies, for example, depend on the country for roughly 40% of their total sales.
https://edition.cnn.com/2020/04/14/business/china-auto-industry-coronavirus/index.html