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China's passenger car sales tumble 92% in first half of Feb. due to virus outbreak

Stock MarketsFeb 20, 2020 10:51PM ET
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© Reuters. China's passenger car sales tumble 92% in first half of Feb. due to virus outbreak

BEIJING (Reuters) - Retail sales of China's passenger car crumbled 92% on an annual basis in the first 16 days of February, according to China Passenger Car Association (CPCA), as the coronavirus outbreak slammed the brakes on businesses across the country.

China's passenger vehicle sales recorded 4,909 units in the first 16 days, down from 59,930 vehicles a year earlier, data from CPCA showed.

"Very few dealerships are opening in the first weeks of February and they have very little customer traffic," it said.

China's passenger car sales tumble 92% in first half of Feb. due to virus outbreak
 

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Comments (2)
Vu To
Vu To Feb 20, 2020 11:14PM ET
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Thats why Nio rallied today and tesla is to the moon. Love this market bubble
travert xavier
travert xavier Feb 20, 2020 11:10PM ET
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Tesla will feel it.. last months I saw the increase of Tesla cars in China, I guess it's a good part of their market
 
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