Car Sales Fall 79% in China

Car Sales Fall 79% in China

There was a record monthly decline in February when the coronavirus hit the country's economic coup. The negative aspects of the coronavirus epidemic in China continue to be experienced. Lastly, when looking at the statistics of the Chinese Automobile Manufacturers Association, automobile sales fell by 79% in February, dropping the biggest monthly decline. In China, which constitutes the largest automobile market in the world, sales decreased to 310 thousand compared to the same month of the previous year. Thus, the decline continued in the 20th month. "Automobile sales have returned to levels not seen since 2005," Chen Shihua, one of the association's officials, said. In an interview with Reuters last month, one of the Union's authorized names said sales could fall more than 10% in the first half of the year. Car manufacturers such as Dongfeng Motor Group and its partners Honda Motor, Renault, Peugeot delayed the resumption of their factories due to the virus. Tesla also postponed its production plans in Shanghai. With the Wuhan authorities removing the bans to some sectors, Honda had started limited production at its factory in the region, and Nissan Motor also reported that it would partially start production in Xiangyang.