In February this year, production and sales of automotive vehicles in China amounted to 285,000 units and 310,000 units, respectively, down 79.8 percent and 79.1 percent year on year, while both declining by 83.9 percent month on month, according to the China Association of Automobile Manufacturers (CAAM). In the January-February period of the year, production and sales of automotive vehicles in China amounted to 2.048 million units and 2.238 million units, respectively, down 45.8 percent and 42.0 percent year on year.
According to CAAM, Chinese automakers faced difficulties from the slow resumption of production and the shortage of auto parts supply, while demand from customers has been depressed due to the coronavirus, contributing to the big declines in auto output and sales.
In February, passenger vehicle output and sales in China respectively totaled 195,000 units and 224,000 units, down 82.9 percent and 81.7 percent year on year, while falling by 86.4 percent and 86.1 percent month on month.
In the January-February period of the year, passenger vehicle output and sales in China totaled 1.631 million units and 1.831 million units, respectively, down 48.1 percent and 43.6 percent year on year.
In February, output and sales of commercial vehicles in China amounted to 89,000 units and 86,000 units, respectively, down 66.9 percent and 67.1 percent year on year, while both decreasing by 73.0 percent month on month. In the first two months of the year, commercial vehicle output and sales amounted to 417,000 units and 407,000 units, down 34.8 percent and 33.2 percent year on year.
In February, the production and sales of new energy vehicles came to 9,951 units and 12,908 units, down 82.9 percent and 75.2 percent, respectively, year on year. In the January-February period, the production and sales of new energy vehicles came to 53,840 units and 59,705 units, down 63.8 percent and 59.5 percent year on year, respectively.
CAAM said that the auto industry has hit the lowest point in February and will see a rebounding trend in March, but will not recover completely until the third quarter of the year.