China auto sales, production to be hit hard due to coronavirus epidemic, says industry association

Author: Justin Low | Category: News

China January vehicles wholesales fall by 18% relative to a year ago

China car
Meanwhile, passenger vehicle wholesales see a decline of 20% in January relative to a year ago. Just take note that besides the coronavirus outbreak situation, there is also the Chinese New Year break to include in the January statistics.

However, the industry association (CAAM) says that sales and production will be hit further in the short-term due to the coronavirus outbreak and that the auto parts supply chain in China has been largely disrupted by the epidemic.

The final remark isn't too encouraging as that also affects overseas automakers and it will be a major problem if Chinese businesses and factories continue to experience severe disruption due to the coronavirus outbreak in the weeks to come.
ForexLive

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose