Coronavirus: 80% Drop in New Vehicle Sales In China

A few weeks ago, we reported the destructive effect of the coronavirus on the retail automotive sector in China. The full sales figures for the month of February are now available, and they are sobering. Retail car sales in China, the world's largest auto market, fell 80% in February due to the coronavirus epidemic, the CPCA (China Association of Passenger Cars) said last week. One of the country's industrial associations. Toyota, the world's largest automaker to report February sales to China, said it sold 23,800 Toyota and Lexus cars last month, down 70% from a year earlier. The world's largest auto market is bracing for more bad news as efforts to stem the spread of the coronavirus, which has killed more than 2,900 people in China, disrupt global supply chains and dampen consumer demand.