China passenger vehicle sales slumped 92% in 1st half of February due to coronavirus

SHANGHAI, Feb 21 (SMM) – Retail sales of passenger vehicles in China plunged 92% year on year the first two weeks of February due to the coronavirus epidemic outbreak, according to data from the China Passenger Car Association (CPCA) released earlier this week.

In the first week (February 1-9), PV sales averaged just 811 units per day, down 96% from 22,965 units in the same period last year.

Sales recovered to a daily average of 4,098 units in the second week (February 10-16), as some auto 4S stores reopened. This, however, still marked a slump of 89% year on year, as the coronavirus outbreak kept buyers away from showrooms.

The CPCA expects PV sales in China to drop about 70% year on year in February.