Car sales seen down this year on virus
China’s passenger car sales are expected to fall 8 percent in 2020, according to the latest figures from the China Passenger Car Association.
This is a bigger fall than the association’s earlier projections.
The CPCA had predicted earlier this year passenger car sales were likely to fall 5 percent in 2020. At the end of last year, the association had estimated that the market may grow 1 percent this year.
Retail sales of passenger cars fell 78.5 percent year on year to 252,308 units in February, data from the association showed.
“The decline of passenger car sales is due to the Spring Festival and the impact of COVID-19 on the auto market,” said Cui Dongshu, secretary general of the China Passenger Car Association. “Since the Spring Festival, most dealers in China have closed their stores and halted sales and service operations.”
Car registrations in some areas have been postponed since last month due to the coronavirus outbreak, hitting demand.
Sales of new-energy passenger vehicles totaled 11,000 units in February, down 77.7 percent year on year. Plug-in hybrid vehicle sales were 2,000 units, a decrease of 84 percent year on year. Electric passenger vehicle sales fell 76 percent to 9,000 units.
Cui said several new car models will be launched this month. But the delay of the Beijing Auto Show has curtailed new product offerings. This may also lead to a slowdown of dealer vehicle purchases.
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