The Car Market in China Collapsed due to the Coronavirus

Business | February 21, 2020, Friday // 15:42| Views: | Comments: 0
Bulgaria: The Car Market in China Collapsed due to the Coronavirus www.pixabay.com

Passenger car sales in China plummeted 92% YoY in the first 16 days of February, as the coronavirus epidemic caused most business across the country to cease operations, according to data from the Chinese Passenger Car Association (CPCA), BNR reported.

China’s passenger vehicle sales recorded 4,909 units in the first 16 days, down from 59,930 vehicles in the same period a year earlier, CPCA data show.

"Very few dealerships opened in the first weeks of February and they have had very little customer traffic," according to a statement from the China Passenger Car Association.

These are the first significant data that show how hard the coronavirus epidemic has hit the world's largest car market.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Tags: car market, China, Coronavirus, collapse
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria