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Home / Metal News / CPCA: COVID-19 likely to lead to a 5% decline in China’s passenger car sales in 2020

CPCA: COVID-19 likely to lead to a 5% decline in China’s passenger car sales in 2020

Feb 25, 2020 14:28

Source:SMM

China’s passenger car sales are likely to extend their decline this year, due to the outbreak of the novel coronavirus (COVID-19) epidemic

SHANGHAI, Feb 25 (SMM) – China’s passenger car sales are likely to extend their decline this year, due to the outbreak of the novel coronavirus (COVID-19) epidemic.

The China Passenger Car Association (CPCA) said it may slash its China PV sales forecasts for 2020 by more than 1 million units, leading to a decline of 5% from 2019, compared to a moderate increase of 1% estimated in November 2019.

Retail sales of sedans, multi-purpose vehicles (MPVs) and sport utility vehicles (SUVs) in China dropped 7.4% year on year to 20.7 million units in 2019, after a decline of 3% in 2018, showed data from the CPCA. In the first two weeks of February, PV sales in China plunged 92% year on year.

China’s car market kicked off 2020 on a weak note, but is likely to pick up later in the year as the potential for private car demand growth is solid, according to the CPCA.

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Coronavirus impact

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Jun 9, 2020 15:32

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China's new energy passenger car sales rose 19.5% in May from month ago: CPCA

CPCA: China’s passenger car sales in May posted first YoY increase over the past 11 months

China’s passenger car sales rose for the first time in almost a year in May, as the auto market rebounded from the coronavirus crisis with support from recovering demand and government stimulus measures, the China Passenger Car Association (CPCA) said on June 8.

Jun 9, 2020 14:00

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CPCA: China’s passenger car sales in May posted first YoY increase over the past 11 months

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SMM Insight

Backlog orders underpinned operating rates at aluminium processors, export outlook remains bearish

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Apr 9, 2020 13:53

Analysis

China excavator sales rose 12% YoY in March

Ternary precursor prices to fall further on reduced export orders

China's ternary precursor market will likely face continued headwinds of falling export orders for digital batteries and delays in recovery of new energy vehicle demand, as the global spread of the coronavirus has yet to show signs of slowing. This is expected to expand the downside room in ternary precursor prices this week.

Mar 25, 2020 13:15

SMM Comments

Ternary precursor prices to fall further on reduced export orders

CPCA: China’s passenger car sales estimated to recover to 1.03 million units in March, down 41%YoY

The China Passenger Car Association (CPCA) said on Monday that retail sales of sedans, multi-purpose vehicles (MPVs) and sport utility vehicles (SUVs) in China are estimated to be 1.03 million units in March, down 41% from the same month of 2019.

Mar 18, 2020 10:49

Analysis

CPCA: China’s passenger car sales estimated to recover to 1.03 million units in March, down 41%YoY

China excavator sales tumbled more than 50% YoY in February

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Mar 11, 2020 14:41

Analysis

China excavator sales tumbled more than 50% YoY in February

CPCA: China’s passenger car sales dropped 78.5% YoY in February

The China Passenger Car Association (CPCA) said on Monday that retail sales of sedans, multi-purpose vehicles (MPVs) and sport utility vehicles (SUVs) in China stood at 252,308 units in February, down 85.3% from a month earlier and 78.5% from a year earlier.

Mar 9, 2020 16:31

Analysis

CPCA: China’s passenger car sales dropped 78.5% YoY in February

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Mar 2, 2020 15:45

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Demand recovery, production costs to limit downsides in magnesium ingot prices

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CPCA: COVID-19 likely to lead to a 5% decline in China’s passenger car sales in 2020

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