Car sales in China fell by 80pc in February from the year prior due to Covid-19 outbreak, said China Passenger Car Association (CPCA) this week. In February, 7,100 vehicles were sold in a day as against 45,000 in February 2019.
Sales headed towards a steep fall this year with the auto sector is already under pressure due to weak demand and impact of Covid-19.
In China, gradually dealers have returned to work in the first three weeks of February but demand for new car units was weak as showroom traffic was less.
In the beginning of 2020, passenger car sales in China were down by 41pc, according to CPCA.
Chinese sales decline is likely to hurt the earnings of global car makers and related industries including Volkswagen, General Motors, Ford Motor and Toyota, reported several local media. Most global companies had released their sales figure reporting a decline in sales in Chinese markets. Toyota has reported a 70pc fall in its February sales from a year ago to 28,800 vehicles sold.