25 February, 2020

China car sales tumble by 92% as coronavirus weighs on industry

Car sales in China have collapsed by 92% as the coronavirus shutdown wreaks havoc on the automotive industry.

The China Passenger Car Association (CPCA) said “barely anybody” had looked to buy vehicles in the first half of February. Most dealerships have remained closed as a precaution.

The plummeting domestic sales – down 96% in the first week of February and 92% across the first half of the month – come days after Jaguar Land Rover revealed it was currently making no sales in China.

“There was barely anybody at car dealers in the first week of February as most people stayed at home,” said Cui Dongshu, the secretary general of the CPCA. “Very few dealerships opened in the first weeks of February and they have had very little customer traffic.”

Only 4,909 cars were sold in the first 16 days of the month, down from 59,930 in the same period last year, in a market where more than 25m cars were sold in 2019.

Read more on The Guardian

Link : https://www.theguardian.com/business/2020/feb/21/china-car-sales-tumble-by-92-per-cent-as-coronavirus-takes-toll-on-industry