World’s largest auto market begins to recover from coronavirus shockAutomotive News
World’s largest auto market begins to recover from coronavirus shock.
Auto sales in China will pick up slightly in April ending two years of declines, meaning the world’s largest auto market is beginning to recover from the impact of the coronavirus, according to forecasts by the China Association of Auto Manufacturers ( CAAM).
Two million cars were registered in the Asian country last month, which translates into a rise of 0.95% compared to the same month in 2019 and 39.8% compared to March. However, the employer has clarified that this figure is provisional and that it is a collection of data made by itself from the different manufacturers.
If fulfilled, it would be the first increase in new car sales in the Asian giant after 21 consecutive months of decline. Still, the association expects them to drop 32.1% between January and April compared to the same period last year, to 5.67 million units, after strong restrictions adopted by the country’s government to curb the spread of the Covid-19.
Many of these restrictions have already been reversed, and customers can now go to dealers, while incentives to boost demand have been approved in some localities of the country. CAAM will report the final results of car sales on May 11.
Cinco Dias – Madrid 7 MAY 2020 (Tranlation Soft)