China's auto sales fall at a slower rate in March; industry expects second-half pick-up [Reuters]
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Source: Reuters
China's auto sales fall at a slower rate in March; industry expects second-half pick-up BEIJING (Reuters) - Auto sales in China plunged an annual 43.3% in March, data showed on Friday, as the world’s biggest auto market struggles to get into gear following a prolonged demand slump that has been exacerbated by the coronavirus outbreak. The 21st consecutive month of decline was less steep than in February, when sales dived 79% as the pandemic pummelled demand. Sales fell 1.43 million vehicles from the same month a year earlier, showed data from the China Association of Automobile Manufacturers (CAAM), the country’s largest auto industry association. The number of new energy vehicles (NEVs) sold - excluding those from U.S. electric vehicle maker Tesla Inc - fell for the ninth straight month to 53,000 units, said CAAM. NEVs include battery-powered electric, plug-in hybrid and hydrogen fuel-cell vehicles. Tesla does not report sales to CAAM. “If we only consider domestic factors, we believ
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