Aston Martin CEO Adrian Hallmark recalled the disbelief from seasoned luxury car dealers at the speed of the sales collapse in China. “You sit around the table with them and they’re saying ‘what is this?’. They’ve never experienced a recession; it has been constant growth for 25 years.”
Global car makers, from boutique luxury brands like Aston Martin and Porsche all the way to global giants like Volkswagen, Nissan and Honda, are all seeing sales plummet in China. The country has long been a reliable cash machine for them.
