Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

China’s car sales dropped massive by 92pc in the first two weeks of February compared to prior year due to the impact of the coronavirus epidemic, according to the China Passenger Car Association (CPCA). The daily average retail car sales in China were 811 units in the first week of February and 4,098 units in the second week. 


Car dealerships have shut shop to prevent the spread of the deadly virus. But the trade body hopes that sales will pick up with more showrooms reopening as things return to normal.


China is the world’s biggest car market in terms of sales, which was over 21mn in 2019, according to Statista. Before the virus outbreak, carmakers in China were challenged by the decline in sales due to slowing economy and trade tension with the US.


Due to lower sales, many car manufacturers have reduced production. Few car companies in China are expected to restart operation in this week, but will take long to reach full capacity.


Leave a Reply

Your email address will not be published.