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Renault pulls out of China joint venture as auto outlook darkens

SAIC forecasts sales to dip while BYD warns of sharp profit fall

SAIC Motor is expecting its auto sales this year to be around 6 million units -- about 4% less than last year.    © Reuters

TOKYO -- Renault has ended its joint venture with its Chinese carmaking partner, a day after China's leading state-owned automaker gave an unusually bearish outlook in a sign that the country is struggling to shrug off the economic impact of the coronavirus outbreak.

The move by Renault and the forecast from SAIC Motor underscore the changing mood in the industry, despite expectations that state and local governments will try provide incentives to juice consumption.

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