For a better experience please change your browser to CHROME, FIREFOX, OPERA or Internet Explorer.
Sales slump in April as COVID measures bite, trade group estimates

Sales slump in April as COVID measures bite, trade group estimates

SHANGHAI  China’s chief auto trade association estimates that industry sales in April dropped 48 percent year-on-year, as zero COVID-19 policies shuttered factories, limited showroom traffic and put the brakes on consumer and business spending.

The estimate represents the steepest decline in sales in the world’s largest auto market since February 2020, near the outset of the pandemic, when volume fell 79 percent from a year earlier.

Car sales in the first four months of the year could fall 12 percent from a year earlier, the China Association of Automobile Manufacturers said on Friday.

The sharp decline is the latest sign of the economic costs of emergency measures China imposed to control a coronavirus outbreak in Shanghai and other cities in recent weeks and comes as manufacturers battle to restart production.

The overall sales estimate was also lower than an earlier one based on retail sales for the first three weeks of April.

The China Passenger Car Association estimated retail deliveries of passenger cars in China were running 39 percent lower in the first three weeks of April from a year earlier.

Showrooms, stores and malls in Shanghai were shut during the month and the city’s 25 million residents were unable to shop online for much beyond food and daily necessities.

Analysts at Nomura estimated in mid-April that 45 cities, representing 40 percent of China’s GDP, were under full or partial lockdowns, with a growing risk of recession.

A survey by an association of China’s auto dealers showed that showrooms in 34 cities had been closed by COVID-19 control measures in April, most for more than a week.

Before the Shanghai lockdown, sales of electric vehicles had been booming. Tesla’s sales in China had jumped 56 percent in the first quarter, while its larger rival in China, BYD, saw EV deliveries quintuple.

Earlier this week, three of China’s most prominent EV makers also reported sharply lower sales.

Deliveries plunged 42 percent at Xpeng Inc., 49 percent at Nio Inc., and 62 percent at Li Auto Inc., versus March, data from the companies showed.

SAIC Motor Corp., China’s largest auto company by sales and a partner with Volkswagen Group and General Motors, reported a 60 percent decline in April sales.

Tesla aims to increase output at its Shanghai plant to pre-lockdown levels by May 16, according to an internal memo seen by Reuters.

The disruption to Tesla’s plant has been one of the highest profile consequences of China’s measures to control the latest COVID-19 outbreak, its largest to date, with strict controls.

Tesla’s progress, however, comes as a survey showed that Japanese companies are struggling to reopen factories in Shanghai, indicating problems with the municipal government’s push to help key businesses resume operations.

Read More

Comments (73)

  1. best online casino to win money
    cash casino games
    real cash online casino

  2. free linux vpn
    vpn best buy
    pia vpn

  3. vpn protection
    free vpn australia
    vpn router

  4. best casino bonuses
    online casino no deposit welcome bonus
    sign up bonus no deposit casino

  5. vpn stocks to buy
    whats the best free vpn
    trust zone vpn

  6. free vpn download for windows
    [url=”https://superfreevpn.net”]best vpn to change location[/url]
    free vpn download for windows

  7. casino games win real money
    [url=”https://trust-online-casino.com”]top online casino[/url]
    bingo online for money

  8. cisco vpn client download
    [url=”https://superfreevpn.net”]vpn free online[/url]
    vpn buy

  9. online casino play for real money
    [url=”https://vrgamescasino.com”]welcome bonus no deposit[/url]
    best casino site

  10. newest gay dating site

    chub mature gay bisexual dating https://gay-singles-dating.com/

  11. adam for adam gay online dating

    most famous gay dating site https://gayedating.com/

  12. gay tommy defendi the dating game

    gay dating long term relationship oriented guys into spanish https://datinggayservices.com/

  13. gay dating in jackson tn
    [url=”https://datinggayservices.com”]gay dating for ftm’s[/url]
    manhunt gay dating website sign up

  14. christian dating for free

    international dating https://freephotodating.com/

  15. dad dating simulator gay
    [url=”https://gayedating.com”]gay dating stockdale texas[/url]
    older gay dating sites

  16. fdating 100 free dating site free

    dating singles site https://onlinedatingbabes.com/

  17. online dating sites free chatting

    international dating site usa https://online-internet-dating.net/

  18. matchmeetups dating site
    [url=”https://adult-classifieds-online-dating.com”]fdating 100 free dating site free[/url]
    free text dating services

  19. best dating online site

    milf dating franken https://wowdatingsites.com/

  20. dating site asian

    plentyoffish free online dating site https://lavaonlinedating.com/

  21. online sex dating

    free online dating service https://freeadultdatingpasses.com/

  22. free online dating sites reviews https://virtual-online-dating-service.com/

  23. the gay dating shows
    [url=”https://gay-singles-dating.com”]100% free gay sex dating[/url]
    adam for adam gay dating website

  24. free site dating

    free local personals https://zonlinedating.com/

  25. dating service hotmail south africa
    [url=”https://adult-classifieds-online-dating.com”]dating guide[/url]
    tinder dating site log in

  26. internet dating services

    free dating chatting online https://onlinedatingservicesecrets.com/

  27. new online dating sites
    [url=”https://adult-singles-online-dating.com”]free dating sites free[/url]
    totally free dating on facebook

  28. massianic singles free dating sites
    [url=”https://datingpersonalsonline.com”]japanese singles dating sites[/url]
    single senior dating site online

  29. gay dating 70 +
    [url=”https://datinggayservices.com”]gay dating site[/url]
    gay dating dallas texas

  30. dating meet singles
    [url=”https://freeadultdatingpasses.com”]skip the games dating site free[/url]
    dating sites for mature singles adults

  31. gay closet dating
    [url=”https://gayedating.com”]gay dating richland, wa[/url]
    adam4adam gay dating hook up site

  32. personals free
    dating gmail germany

  33. dating sim game gay
    [url=”https://gay-singles-dating.com”]north leeds gay dating[/url]
    college gay dating site

  34. local dating sites absolutely free
    [url=”https://lavaonlinedating.com”]best free online dating sites[/url]
    tinder web

  35. online free casino games

    live casino online pa https://onlinecasinos4me.com/

  36. fastest payout online casino usa

    real cash online casino https://online2casino.com/

  37. no deposit online casino bonus
    [url=”https://casinosonlinex.com”]online usa casinos[/url]
    online casino free spins

  38. bovada online casino

    big dollar online casino https://casinosonlinex.com/

  39. best free date sites
    [url=”https://onlinedatingbabes.com”]adult-daiting site[/url]
    single woman free

  40. free xxx gay chat rooms
    [url=”https://chatcongays.com”]free gay chat lines los angeles[/url]
    chat random gay

  41. gay chat phone line locker

    sacramento gay chat https://newgaychat.com/

  42. gay chat roulettye
    [url=”https://free-gay-sex-chat.com”]line group chat gay tampa[/url]
    local gay chat room

  43. fcn free gay chat free chat network

    gay live chat https://gaychatcams.net/

  44. gay dad cam chat

    gay page chat roulette https://gaychatspots.com/

  45. gay video chat room

    line group chat gay tampa https://gay-live-chat.net/

  46. gay chat pittsburgh
    free gay chat phone numbers
    gay male chat

  47. gay suppport chat https://chatcongays.com/

  48. free gay chat lines in fitchburg,ma

    reddit gay chat room https://gayphillychat.com/

  49. gay chat webcam room facebook free

    popular gay chat avenue https://gaychatnorules.com/

  50. gay chat cam rabdom
    gay chat sites
    free sacramento gay chat

  51. free cookeville tn gay chat rooms

    chat random gay chat https://gayinteracialchat.com/

  52. indian gay chat
    gay live chat rochester video
    free asian gay chat lines

  53. chat with gay stranger
    gay web chat rooms
    gay chat pittsburgh

  54. zoom chat gay
    dirty gay video chat
    zoom chat rooms gay chat

  55. gay live chat
    gay chat room
    boys gay chat

  56. free gay sex chat
    gay sex chat no registration
    most popular video gay chat

  57. gay chat rooms no registration
    gay sissie video chat
    gay boy teen webcam chat

  58. 100% free gay chat line
    gay chat line charlotte nc
    gay chat and hookup

  59. free adult dating sites
    hot dating match
    local single

  60. find international singles dating
    free dating sites
    single senior dating sites

  61. dating chat site
    personal ads dating
    free dating site

  62. free and single dating site
    free dating sites totally free
    meet single

  63. matchmeetups dating site
    dating online chat and meet
    online dejting

  64. recommended essay writing service
    reviews of essay writing services
    best mba essay editing service

  65. community service essay
    essay writing service scams
    write my essay org

  66. custom essay writing reviews
    custom college essays
    essay title help

  67. best essay help
    custom order essays
    college application essay writing service

  68. urgent essay help
    essay writer cheap
    essay about helping others

  69. buy essays online
    college essay help service
    the best essay writing service

leave your comment

Your email address will not be published.