China reduced car sales by 4.4% in January

According to a report released by the China Passenger Car Association, 2.09 million passenger cars were sold in China in January this year. For twelve months their number decreased by 4.4%. It is reported that the rate has been declining over the past 8 months. Japanese car maker Toyota Motor cut sales of its vehicles in the Chinese market by 21.5% compared with January a year earlier, data showed. The decline in sales was also recorded by two Chinese manufacturers jointly with Volkswagen. The indicator of one for the year fell by 19.9%, the second – by 17.9%. A fall of 8.7% was also recorded by Nissan Motor Corporation. Sales of Honda Motor fell by 6.9% in January. At the same time, sales of electric vehicles and hybrid vehicles showed notable growth last month. This figure amounted to 347 thousand, more than doubling over the year. Analysts think that new cases of coronavirus infection recorded in the country will harm the Chinese car market, which may again show a decline.


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Arseny Kudrin

Publicist, trader

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