Automotive sales in China in March 2020 weaken and could only pass half than total sales in the same month in the previous year. When sales reached 3.326 million vehicles in March 2019, this month sales fell by 43,3% according to data released by the China Association of Automobile Manufacturers (CAAM).
This downward trend has occurred since June 2018, influenced by the implementation of new emission standards followed by the effects of trade tension between China and the United States. Weak demand for vehicles was further exacerbated by the COVID-19 pandemic, which had made sales decrease to 79% in February 2020.
CAAM revealed that the production rate had reached 99.5%, with 86% of production workers returning to work on 204 manufactures surveyed. The return to normality also coincided with initiatives from vehicle manufacturers dominated by players from the industrial areas of Guangzhou and Ningbo to spur sales entering the second quarter.
CAAM also alludes the new energy vehicles (NEV) sector only saw sales of 53,000 units and in a downward trend for nine months. The figure does not take into account sales by Tesla Shanghai which experienced an upside trend by recording transactions reaching 10,160 units in March according to release from the China Passenger Car Association (CPCA) on Thursday (April 9). Sources from CAAM itself said that the negative impact of sales in the first half of 2020 would be difficult to close by the second half of 2020 sales which targeting the same figure as 2019.
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Published on April 13, 2020 4:34 PM (GMT+8)Last Updated on April 13, 2020 4:39 PM (GMT+8)
