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Automotive and New Mobility
Automotive and New Mobility / 19 February 2020
Post Corona – How the virus outbreak could affect car consumer behavior in China
Passenger vehicle sales in January 2020 have been down by some 22 percent year-on-year. An early Chinese spring festival had already let anticipate a pressure on car sales at the beginning of the year; yet, this first month’s unexpected steep decline undeniably carries some consequences from the coronavirus outbreak, whose momentous consequences unfolded in the second half of the month. Without any doubt, the whole extent of the impact will be seen in February, with sales forecasts pointing to a significant decrease: at least 50 percent, if not even more, down from the previous year. But not only sales are affected by the spread of the virus, the entire industrial chain has been suffering from the sudden standstill in China – parts supply broken down, entire production cycles shut down. The auto sector, just like other industries, has been hit hard by the recent health crisis. And the outlook looks grim, at least for the first quarter of the year.
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