China Auto Sales Fell 80% in February as Coronavirus Kept Buyers Away
New-car sales in China, the world's largest auto market, fell 80% in February as buyers stayed home because of the novel coronavirus, an auto industry association said on Wednesday.
The China Passenger Car Association (CPCA) said that overall retail sales of passenger cars (cars and SUVs) fell 80% from February of 2019, to an average pace of about 7,100 vehicles a day from roughly 45,000 per day in the year-ago period.
But, it said, the pace of sales rose steadily through the month, to about 16,000 per day in the last week from just 811 per day early in the month, as dealers gradually returned to work over the the first 3 weeks of February.
Source Fool.com
