Chinese auto industry faces low demand

Chinese auto industry faces low demand

March 31, 2020 0 By autotimesnews

In connection with the improvement of the epidemiological situation in China, the local auto industry was able to restore output by 97%, but now it is overtaken by another problem – the low volume of demand. Such information was shared on March 30 by Xin Guobin, Deputy Minister of Industry and Informatization of China.

According to him, although production is resuming rapidly, the level of market demand is still low. As a result, the stock of car factories will increase, which will eventually force them to reduce capacities and reduce the supply volume.

The Chinese government, as he notes, already in the current period of time is taking all necessary measures and introducing new programs aimed at stimulating demand, which should lead to the return of the market to its previous levels.