Corona virus sells less than 1 million vehicles in China

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New Delhi / Beijing Novel corona virus (COVID-19) has severely affected China’s automobile industry. An analysis reported on Thursday that the automobile sector in China has seen a decrease of at least 1 million units of sales in 2020. According to the Global Times report, the China Association of Automobile Manufacturers (CAAM) gave this information in a press conference on Thursday. The association said that the auto industry would suffer huge losses due to the virus.

The association said there has been a drop in demand, production disruptions and some medium-sized automakers are also facing a capital crisis.

The association said, “Central China’s Hubei province accounts for about eight to nine percent of the country’s total automobile production. While South China’s Guangdong and East China’s Zhejiang province are also important manufacturing centers. As these provinces see an impact The local automobile assembly and the nationwide supply of cars are now being disrupted. “

In addition, CAAM assistant general secretary Xu Hadong said auto sales were expected to decline in the first quarter amid the Kovid-19 outbreak.

According to CAAM data, annual sales of vehicles in China in January declined by 18 percent to 19 lakh 40 thousand units. Sales of new-energy vehicles declined by 54.4 percent to only 44,000 units.

China Passenger Car Association Secretary-General Cui Dongshu told the Global Times that the traditional boom season for car sales comes during the Lunar New Year holiday, but the outbreak of the epidemic has severely affected the auto industry.

Some automakers released January sales data on Thursday, which saw a drop in vehicle sales.

China’s Zhejiang Wet Holding Group announced that it registered a 29 percent decline in January this year over the previous year. The company sold a total of 111,800 vehicles last month. (IANS)

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