Ford Motor Company (F)

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“Instead, the IMF said the industry downturn was mainly due to policy changes in China — including the withdrawal of tax breaks encouraging car ownership and a clampdown on peer-to-peer lending — and the disruption caused by the rollout of new emissions tests in Europe.

The IMF noted that in many countries, consumers were holding off on purchases because standards were changing rapidly, while the options for car-sharing were evolving.

Meanwhile Indian car sales have slumped because of problems in the shadow banking sector that provides around half of new car finance; while recession in Turkey and Brexit-related uncertainty in the UK have held back sales in other big markets.”