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China’s auto output, sales to decline 45% in Q1

China’s auto production and sales are forecast to slump by a huge 45% in the first quarter of 2020 and decline by 25% in the first half of this year, Ye Shengji, deputy secretary general of China Association of Automobile Manufacturers warned on March 18.
“The unexpected coronavirus pandemic (COVID-19) made the bad situation in (China’s) auto industry even worse. The industry is facing unprecedented downward pressure,” Ye said in an interview with China News Service, a national news agency mainly targeting foreign readers. Currently, demand is inadequate and consumption is stagnant, which is severely affecting

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