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

iconFeb 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.

Sales data
Passenger car
Passenger vehicle
Coronavirus impact

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