Resumption rate of 23 automakers in China at 90.1%, full recovery in H1 unlikely

Friday, 13 March 2020 12:14:15 (GMT+3)   |   Shanghai
       

The resumption rate of production of 23 monitored automakers in China was 90.1 percent as of March 11, as announced by the China Association of Automobile Manufacturers (CAAM).

CAAM suggested the government should issue policies to stimulate auto consumption, for instance, by increasing the quota for license plates in areas implementing car purchase restrictions, lifting restrictions on the purchase of new energy vehicles, optimizing the subsidy policy for purchasing new energy vehicles, and formulating a policy to promote auto consumption in rural areas.

CAAM predicted that auto industry in China will see a rebounding trend in March, but will not recover completely until the third quarter of the year. 


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