For the first half of February, sales of passenger cars in China fell by 92% compared to the same period last year. According to the China Association of automobile manufacturers (CAAM), in the first week of this month average daily value declined by 96 percent to 811 of sold cars in the day.
CAAM predicts the fall of China’s auto market in February, 70 percent, and in January-February and 40 percent in comparison with the results of the same months of 2019. In the Association take into account only passenger cars, light commercial vehicles. In the first half of February, the dealership was empty, as people stayed home because of the epidemic of the coronavirus. The second week, the motor resumed its activities and, on average, sold in about four thousand cars, which is 89 percent less than in the second week of February 2019. By the end of the third week is expected to revive sales.
The demand for cars in China contracted for the second year in a row, and before the outbreak of coronavirus was assumed that in 2020 the local market finished in the red. One of the possible measures to restore market may be the extension of state subsidies in the purchase of electric vehicles, reports Automotive News, citing its own sources.
In 2018 in China was first recorded in 28 years the fall in new car sales. At the end of the year dealers have implemented 28.1 million cars, which is 2.8 percent less than in 2017. In 2019, the market dropped by 9.3 percent to 21.4 million copies sold.
The epidemic of coronavirus, with a distribution center which became the Hubei province, is reflected in the global automotive industry. Some automakers were forced to suspend the work of Chinese and foreign factories. Also stopped supplying parts for companies outside of the country.
Previously, this problem was faced Fiat, which temporarily froze the Assembly of the model 500L plant in Serbia due to the lack of a number of elements of the audio system. About the possible suspension of release also said Jaguar Land Rover and Nissan.