NEW DELHI: The Coronavirus outbreak in China has led to sharp fall in four-wheelers sales across the country. According to China Passenger Car Association (CPCA), retail sales of passenger cars in China fell 92 per cent on an annual basis in first sixteen days of February.
Passenger vehicle sales is China stood at 4,909 units in the first sixteen days, down from 59,930 vehicles in the same period a year ago, reflecting the extent of fall in business activity in the world’s largest automotive market.
The Coronavirus has claimed over 2,200 lives so far and led to complete shutdown of many cities in the neighbouring country. CPCA said that very few dealerships opened in the first week of February and they had witnessed very little customer traffic.
China is the world’s largest auto market, where more than 25 million cars were sold in 2019. As of now, major automakers such as Jaguar Land Rover, Nissan and Honda have delayed restarting their facilities in China as the situation on ground remains tense.
The shutdown has already disrupted the global supply chain as automakers across the world depend on China for auto parts needed in the manufacturing of vehicles.
According to experts, India’s automotive industry is likely to be negatively impacted due to the outbreak as China accounts for 27 per cent of India’s auto component imports valued at $ 4.8 billion.