Coronavirus: Car sales in China fall 92% in February

Industry

Car sales in China fell 92% in the first half of February as the coronavirus shutdown took its toll, according to an industry trade body.

Car dealerships have remained closed while buyers have stayed away to prevent the spread of the deadly virus.

Nationwide car sales slumped 96% in the first week of February to a daily average of just 811 vehicles.

The China Passenger Car Association (PCA) said it hoped sales would pick up as more showrooms reopened.

“There was barely anybody at car dealers in the first week of February as most people stayed at home,” said PCA secretary general Cui Dongshu.

Dealers have gradually restarted operations this month, and the automobile trade body is hoping sales will improve during the second half of February.

China is the world’s biggest car market, selling just over 21 million cars last year, according to Statista. The US is the second biggest market.

Even before the deadly outbreak, car sales in China were in decline due to a slowing economy and trade tensions with the U.S.

While car sales have slumped, production has also been severely disrupted with many of the world’s biggest car makers warning of delays.

The death toll from the coronavirus outbreak has now risen to more than 2,200 people.

Products You May Like

Articles You May Like

Toyota joins Redwood Materials’ battery recycling initiative
Polestar SPAC deal raises $890 million; trading on Nasdaq New York set to start Friday
2022 Subaru WRX, BMW M3 Touring, 2023 Mercedes-Benz AMG GLC 63: The Week In Reverse
Tesla relaunches $6,000 Enhanced Autopilot – gutting Full Self-Driving package in the process
Watch Ford F-150 Lightning Fully Charge Stranded Mini Cooper SE

Leave a Reply