China Car Market Probably Reached Bottom Last Month, Group Says
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China’s car market, the world’s largest, probably hit a bottom last month and is set to gradually recover as the spread of the coronavirus slows and consumers return to shopping, an auto industry group said.
Demand is expected to recover starting this month and the industry may reach its “normal level” in the third quarter, Xu Haidong, a vice chief engineer at the China Association of Automobile Manufacturers, told media in Beijing on Thursday.