China's March auto sales fell 43.3% Y/Y, slower pace of fall vs Feb

March marked 21 months of decline in a row, with total auto sales down to 1.43 million units from the same month a year earlier.
By : Reuters
| Updated on: 10 Apr 2020, 12:41 PM
File photo used for representational purpose only (AP)
File photo used for representational purpose only (AP)
File photo used for representational purpose only (AP)
File photo used for representational purpose only

Auto sales in China plunged an annual 43.3% in March, and though the downturn was less dire than last month the world's biggest auto market struggled to rev-up from a prolonged demand slump that was exacerbated by the coronavirus outbreak, data showed on Friday.

February auto sales in the country had dived 79% as the pandemic pummeled demand.

Still, March marked 21 months of decline in a row, with total auto sales down to 1.43 million units from the same month a year earlier, according to data from the China Association of Automobile Manufacturers (CAAM), the country's largest auto industry association.

Trending Cars

Find More Cars

(Also read: China's vehicle production to drop 11.5 percent this year)

The number of new energy vehicles (NEVs) sold fell for the ninth straight month to 53,000 units. The number does not include Tesla's sales, CAAM said.

China's car market, which was already under pressure, has been badly hurt by the pandemic that has killed more than 3,300 people in world's No.2 economy.

CAAM estimated last month that China auto sales will drop by more than 10% in the first half of this year, and around 5% for the whole year if the outbreak is effectively contained before April.

Industry sales fell 8.2% last year, pressured by new emission standards in a slowing economy and amid trade tensions with the United States.

First Published Date: 10 Apr 2020, 12:41 PM IST
Recommended For You
View All
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking VIEW OFFERS you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city