China’s passenger car sales fell the most since 2005 in Jan, could drop more than 30% this month
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China’s passenger car sales fell the most since 2005 in Jan, could drop more than 30% this month
STOCKS

China’s passenger car sales fell the most since 2005 in Jan, could drop more than 30% this month

 

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China’s automobile sales dropped significantly in January and industry body estimates the sales this month could drop by as much as 30 per cent due to Lunar New Year holidays that started earlier than last year and the coronavirus outbreak.

Preliminary data shows that automobile sales tumbled 18 per cent in January from a year earlier while sales of new-energy vehicles plunged 54.4 per cent, down for a seventh consecutive month, said the China Association of Automobile Manufacturers (CAAM).

The epidemic has hit auto sales and production hard and the impact on . . .

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