CHINA: 92% PERCENT DROP IN CAR SALES IN FIRST HALF OF FEBRUARY
February 21st, 2020Via: South China Morning Post:
A 92 per cent drop in car sales in China in the first half of February provided the first real indicator of the economic impact of the coronavirus epidemic, with officials also warning of a sharp decline in Chinese exports and imports for the first two months of the year.
The China Passenger Car Association (CPCA) on Friday said that sales dropped to just 4,909 units in the first 16 days of the month, down from 59,930 vehicles in the same period a year earlier.
“Very few dealerships opened in the first weeks of February and they have had very little customer traffic,” said the CPCA.
