China’s Automobile Sales Fell 18.7 Per Cent in January, Worse than Forecasted

Robotic arms paint a automobile on the BYD Automobile Company Limited Xi’an plant, in Shaanxi province, China

(Source: December 25, 2019/ China Daily by way of REUTERS/Files)

The China Association of Automobile Manufacturers had earlier estimated a 18 per cent fall in year-on-year gross sales on the earth’s largest vehicle market.

  • Reuters
  • Last Updated: February 27, 2020, 10:56 AM IST
  • Edited by: Chhavianshika Singh

Auto gross sales in China fell 18.7 per cent in January, greater than anticipated and marking the trade’s 19th consecutive month of gross sales decline, knowledge from the nation’s largest auto trade affiliation confirmed on Wednesday. The China Association of Automobile Manufacturers (CAAM) posted on its official WeChat account that new vitality car gross sales through the month fell 51.6 per cent year-on-year, including that declines in China’s automotive manufacturing and gross sales ranges will probably be extra important in February as a result of coronavirus outbreak.

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The affiliation had stated on February 13 that it was anticipating whole auto gross sales on the earth’s largest auto market to fall 18 per cent in January from the identical month a 12 months earlier. The trade is bracing for the affect of a coronavirus epidemic that has killed 2,715 folks by February 26.

Local governments started imposing journey curbs and warning residents to keep away from public areas within the final two weeks of January, and trade executives stated the epidemic was more likely to wreak havoc on auto gross sales and manufacturing within the first quarter.

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This post was last modified on February 27, 2020 4:21 pm

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