Chinese Car Market Collapses: Sales Fall by 80 Percent
Car sales in China fell by 80 percent in February, compared to the same month a year ago. Such a sharp decline has never occurred in history.
The fault lies, of course, with the coronavirus.
The figures are from the Chinese car manufacturers, united in the PCA (China Passenger Car Association). In the first months of this year, there had already been a decrease of 41 percent.
Due to the virus outbreak, the holiday around the Chinese New Year was already extended, and car dealerships were closed for longer.
At the same time, the willingness to buy a new car fell to a low point due to the virus. China is the largest car market in the world. European and American brands have also done good business there in recent years.