The shine was already coming off China's auto sector. Then COVID-19 struck, buckling supply chains and hitting sales hard.
Handouts for electric vehicle companies to run through 2022: Finance Ministry

Auto Manufacturers' profits plunged 80.2% in the first quarter, according to data from China’s National Bureau of Statistics. © Reuters
The shine was already coming off China's auto sector. Then COVID-19 struck, buckling supply chains and hitting sales hard.