China’s auto market improves

China's auto market improves

China’s auto market is slowly regaining momentum after the slump in february. In the last week of march, sales were down 24 percent on the same period last year, according to figures released by the PCA (china passenger car association).

After the weaker previous weeks, this means that car dealers’ sales in march are down 36 percent overall. In february, sales were still down by 80 percent due to the corona virus. In the meantime, china, the world’s largest car market, is ramping up production again, and most car dealers have also reopened their doors.

China is also the largest single market for german carmakers volkswagen, daimler and BMW. The auto industry is watching with great anticipation to see how quickly the market in china can recover after the slump. In europe and north america, most manufacturers’ assembly lines and many suppliers’ plants are currently at a standstill, partly because hardly any cars can be sold due to closed dealerships.

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