Auto sales hit lowest in 15 years
Print Edition
Chinese auto sales dropped 79 percent to 310,000 units in February from a year earlier, the 20th consecutive monthly decline, according to data released by the China Association of Automobile Manufacturers yesterday.
It was a 15-year low.
The drop follows falls of 18 percent in January and 0.1 percent in December for the world’s largest auto market.
CAAM said the downward trend was due to the macroeconomic environment as well as weak demand amid the coronavirus outbreak.
In total, 2.23 million vehicles were sold in the first two months of this year, down 42 percent year on year.
“China’s auto sales for February returned to levels not seen since 2005,” said Chen Shihua, CAAM assistant secretary general.
“The auto sales figure is mainly affected by the COVID-19, which has little to do with real consumer demand.”
The association had predicted auto sales were likely to fall 5 percent in 2020, a third consecutive year of contraction. Last year, sales dropped 8.2 percent to 25.77 million.
In February, sales of passenger cars accounted for about 74 percent of total sales. China sold 224,000 passenger cars in the first two months, down 81.7 percent year on year. Sales of commercial vehicles were 86,000 units last month.
In January, new energy vehicles fell 75.2 percent to 12,908, the eighth straight monthly fall. Last month, electric vehicles fell 72.6 percent year on year to 10,680. Sales of plug-in hybrids dropped 82.9 percent to 2,228.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
