Passenger Vehicles: Industry Group and Car Sales

passenger vehicles: Purchases of passenger vehicles by dealerships plunged for a third straight month, an industry group said Friday, according to The Toronto Star. With trade ties with the U.S. worsening by the day and car sales barely up for the year already, the industry is now facing the prospect of its first contraction since at least the 1990s. Now that all might be coming to an end. A sales associate talks to clients at a BMW car dealership in Beijing on October 11. NICOLAS ASFOURI / AFP/GETTY IMAGES A slowdown in China where automakers poured in billions of dollars in the past 20 years to bulk up factories leaves the industry struggling to find growth anywhere on the planet. German luxury carmaker BMW announced on October 11 a plan to take control of its China joint-venture, the first foreign automaker to take advantage of Beijing's new ownership rules for the sector. (news.financializer.com). As reported in the news.