Sales of new cars in China in February fell by 80%March 11, 2020
Negative market dynamics is associated with the coronavirus epidemic in China.
The China Association of Car Manufacturers has released data on sales of new cars in China in February of this year. As expected, the coronavirus epidemic hit the Celestial car market very hard – sales “dipped” immediately by 80% compared to last year’s result for the same period.
In total, last month, Chinese car dealers were able to sell 206 thousand new cars. Recall that a year earlier this indicator amounted to 1.02 million units. Thus, the Chinese car market for the first time in a long time lost the title of the most capacious in the world, letting the USA pass ahead. Last month, sales were at the level of leading European countries.
Because of the coronavirus, many factories in China stopped their work, and many dealerships also closed.
There were few customers at car dealerships that continued their work. Today, machine manufacturing enterprises are gradually resuming their work. The coronavirus epidemic in China has declined, so in March the market drop is no longer expected to be so serious.
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