Nearly Half of China’s Car Dealerships Lost Money in the First Six Months: Report

Slowing demand for cars is putting pressure on China’s auto dealerships, with nearly half reporting losses in the first six months of this year, according to a new industry report.

The study from Shanghai-based online auto services platform Lechebang, which surveyed 2,493 dealerships in 320 cities and comprised dozens of car brands, found that 44% made a loss during the period from January to June. Only 29% turned a profit, while 27% said they broke even.