car Sales in China will likely demonstrate a record decline in the first two months 2020 under the influence of coronavirus outbreak, says Bloomberg.
the Sale, according to preliminary estimates, in January-February will fall by 25-30%, said the Secretary-General of China Association of passenger vehicles (China Passenger Car Association, CPCA) Cui Dunshou.
According to him, car sales in China for the entire 2020 could fall by 5% due to the outbreak of coronavirus.
In most growth centres of China resume after the New year celebrations on the lunar calendar has been postponed for at least a week, as the country tries to contain the spread of the novel coronavirus. The outbreak of the virus also causes significant impact on retail sales.
“the Automotive industry of China has never had to consider so many negative factors — problems accumulated, — said Tsui. — Will take months to economic activity returned to normal. Purchasing power is eroded by falling incomes.”
If sales of passenger cars in China will fall by 20% compared to 21.4 million units, it would jeopardize the country’s status as the world’s largest car market.
In 2019, vehicle sales in China fell for the second consecutive year, the CPCA.
On the performance of the world’s largest automotive market was affected by slowing economic growth in China, as well as the consequences of a trade war between Beijing and Washington.
in addition, sales performance was influenced by the fact that in some Chinese provinces of new emissions standards were introduced earlier than expected, which increased the uncertainty for automakers.
the Downturn in the Chinese market impact on automakers around the world, leaving them with fewer opportunities for growth.