The Car Market in China Collapsed due to the Coronavirus
Passenger car sales in China plummeted 92% YoY in the first 16 days of February, as the coronavirus epidemic caused most business across the country to cease operations, according to data from the Chinese Passenger Car Association (CPCA), BNR reported.
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, CPCA data show.
"Very few dealerships opened in the first weeks of February and they have had very little customer traffic," according to a statement from the China Passenger Car Association.
These are the first significant data that show how hard the coronavirus epidemic has hit the world's largest car market.