Vehicles sales in China tumbled 79 percent from a year ago to 310,000 units in February 2020, the steepest yearly decline on record, as the coronavirus outbreak hurt demand. Sales of new energy vehicles (NEVs), including plug-in hybrids, battery-only electric vehicles and those powered by hydrogen fuel cells fell for an eighth straight month. The China Association of Automobile Manufacturers (CAAM) expects that vehicles sales will decrease by more than 10 percent in the first half of the year, and around 5 percent in 2020 full year, if the outbreak is effectively contained before April. Vehicle sales will return to normal in the third quarter. Meanwhile, automakers in China have called for cuts to the purchase tax on smaller vehicles, measures to support sales in rural markets and an easing of car emission requirements.
Total Vehicle Sales in China averaged 1099315.53 from 1997 until 2020, reaching an all time high of 3060271 in December of 2017 and a record low of 88416 in January of 1998. This page provides - China Total Vehicle Sales- actual values, historical data, forecast, chart, statistics, economic calendar and news. China Total Vehicle Sales - data, historical chart, forecasts and calendar of releases - was last updated on March of 2020. source: China Association of Automobile Manufacturers
Total Vehicle Sales in China is expected to be 1450000.00 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Total Vehicle Sales in China to stand at 2550000.00 in 12 months time. In the long-term, the China Total Vehicle Sales is projected to trend around 2650000.00 in 2021, according to our econometric models.