Economics
China 2020 Car Sales to Drop 8% Amid Virus, Auto Group Says
- Industry group PCA cuts forecast for second time amid outbreak
- China car sales had the biggest monthly drop ever in February
Photographer: Greg Bker/AFP via Getty Images
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China’s car sales are set to fall 8% this year, an auto-industry group said, slashing its forecast for a second time as the coronavirus keeps buyers away.
The prediction given by China Passenger Car Association on Monday signals the world’s largest market is set to shrink for a third straight year. The PCA last month predicted a 5% decline after initially forecasting 1% growth at the end of last year.