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Retail sales of passenger cars in China crumbled 92% on an annual basis in the first 16 days of February, according to China Passenger Car Association (CPCA), as the coronavirus outbreak slammed the brakes on businesses across the country.



China’s passenger vehicle sales recorded 4,909 units in the first 16 days, down from 59,930 vehicles in the same period a year earlier, data from CPCA showed, the first major figures to demonstrate just how hard the epidemic is hitting the world’s biggest auto market.

“Very few dealerships opened in the first weeks of February and they have had very little customer traffic,” it said...

 



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Coronavirus CRIPPLES China's Auto Industry, Sales Down OVER 90% YOY In Early February

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