Automotive: Chinese market severely hampered by return of Covid

Posted on Apr 11, 2022 at 2:54 p.m.Updated on Apr 11, 2022 at 3:42 p.m.

The images of the main deserted arteries of Shanghai broadcast on social networks give the measure of the extent of the new wave of Covid-19 contamination in the Chinese economic capital, but not only. The confinements put in place in many cities of the country, after an explosion in the number of cases linked to the Omicron variant, have notably affected automobile production and car sales, notes the China Passenger Car Association (CPCA). In March, the Chinese car market plunged 10.5% year on year, to 1.6 million passenger vehicles sold.

Last month thus pushed the sector into the red in the first quarter. The decline in sales in the world’s largest market was 4.5% over the first three months of the year, with just under 5 million vehicles sold. Worse still, tensions should anticipate the CPCA. While health measures to fight Covid-19 will continue, demand should continue to slow in the coming weeks, the association estimates.

Go to Source