Lifan is on the verge of extinction

Lifan is on the verge of extinction

November 27, 2019 0 By autotimesnews

Automobile factories in China have been idle for several months, and finished goods cars are gathering dust in warehouses.

Lifan is going through hard times today. The company’s plants have been idle for several months, and the production of cars has been curtailed without any prospects for renewal. Such information was shared by Chinese journalists, as well as former Lifan employees. Brand sales at home have been falling for several years. Last year, the company managed to sell only 58,000 of its cars on the home market. For the 23-millionth “heavenly” car market, this result is quite modest.

 Disappointing for the brand data comes from the China Automobile Manufacturers Association. According to her estimates, in September, the Chinese purchased only 123 cars with the Lifan logo, and in October – only six.

 Thus, Lifan may be the first victim of the crisis that overtook the Chinese car market for the first time in 28 years. Last year, a drop in demand was recorded here for the first time since 1990. Car sales went down by 2.8%, but the performance of purely Chinese brands sank significantly – by 8%.