China's monthly auto sales rose for the first time in almost two years as the country eased virus-related curbs and reopened for business, but the annual number will likely be slashed by up to 25% if the pandemic continues, an industry body cautioned.
SHANGHAI - China’s monthly auto sales rose for the first time in almost two years as the country eased virus-related curbs and reopened for business, but the annual number will likely be slashed by up to 25% if the pandemic continues, an industry body cautioned.
The sales data for April and the gloomy outlook underline the challenges being faced by the world’s biggest auto market as it struggles to emerge from a prolonged slump in demand, which was first exacerbated by the trade war with the United States and now by the global health crisis. In April, China’s auto sales reached 2.07 million units, up 4.4% from a year earlier, even as sales of new energy vehicles fell for a tenth month to 72,000 units, CAAM data shows.China’s auto sales sank 79% in February and 43% in March, pummelled by the virus as strict stay-at-home orders kept buyers away. Monthly sales last rose in June 2018.
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