China Is Sending Its World-Beating Auto Industry Into a Tailspin

An anonymous reader quotes a report from Reuters: On the outskirts of this city of 21 million, a showroom in a shopping mall offers extraordinary deals on new cars. Visitors can choose from some 5,000 vehicles. Locally made Audis are 50% off. A seven-seater SUV from China’s FAW is about $22,300, more than 60% below its sticker price. These deals — offered by a company called Zcar, which says it buys in bulk from automakers and dealerships — are only possible because China…