China's passenger car sales tumble 92% in first half of Feb. due to virus outbreak

BEIJING (Reuters) – Retail sales of China’s passenger car crumbled 92% on an annual basis in the first 16 days of February, according to China Passenger Car Association (CPCA), as the coronavirus outbreak slammed the brakes on businesses across the country.

China’s passenger vehicle sales recorded 4,909 units in the first 16 days, down from 59,930 vehicles a year earlier, data from CPCA showed.

“Very few dealerships are opening in the first weeks of February and they have very little customer traffic,” it said.

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