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Domestic vehicle enterprises have been basically full resumption of work epidemic may make the car market down by 25 percent

Publish Date: 2020.05.12

By May 11, all provinces and cities except xinjiang had resumed work.

    "As of May 11, there were a total of 204 production bases among the 23 vehicle manufacturers surveyed and counted, and all of them had resumed work except one from saic."

疫情,国内车企复工

    At the China association of automobile manufacturers information conference held on May 11, there were also clearer data on the resumption of work and return to work of domestic automobile enterprises.

    By May 11, all provinces and cities, except xinjiang, had resumed work, according to the association, which tracks 23 enterprise groups (204 production bases, accounting for more than 96 percent of annual sales).

    The persistence of the overseas epidemic has seriously impacted the global automobile market.

    According to statistics, by the beginning of April, more than 150 whole car factories and more than 3,000 parts companies had stopped production.

    Global production at Japan's eight carmakers is expected to fall by 50% year-on-year;Germany, Europe's best car market by sales, fell 61 per cent in April from a year earlier.In the UK it was down 97 per cent and in Italy it was down 98 per cent.

    Affected by the epidemic, in order to stabilize automobile consumption and promote the healthy development of the automobile industry, relevant policies including value-added tax incentives for second-hand automobile enterprises, subsidies for new energy vehicles, purchase tax incentives for new energy vehicles and other relevant policies have been introduced since April.

疫情,国内车企复工

    However, the epidemic still has an impact on the auto market in 2020.The China association of automobile manufacturers estimates that, optimistically, the auto market is expected to decline by 15% in 2020 if the epidemic is effectively controlled at home and abroad.Pessimistic estimates suggest that if the overseas outbreak continues into the third or even fourth quarter, auto sales could fall by 25 percent.

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