The Chinese market is down 22.5% in the first half of 2020
- The Chinese market of passenger car fell 22.5% in the first 6 months of 2020, whereas it fell by -27.5% in the first 5 months and
-35.5% in the first 4 months , compared to the same period of 2019. The market is improving because the month of June was positive (+ 2.1%) like the month of May (+ 7.2%), the first positive month since 2018. We can therefore say that the coronavirus crisis seems to have passed in China and that future months will be on the rise.
-35.5% in the first 4 months , compared to the same period of 2019. The market is improving because the month of June was positive (+ 2.1%) like the month of May (+ 7.2%), the first positive month since 2018. We can therefore say that the coronavirus crisis seems to have passed in China and that future months will be on the rise.
- However, Inovev indicates that the catching up of missed sales in February and March 2020 will not take place, the market should remain slightly down for the full year, probably between -7.5% and -12, 5%. The Chinese government is forecasting a 10% drop in the market over the year as a whole. To end 2020 at -10%, a second semester at + 12.5% would be needed, which does not seem impossible, given the results recorded in May and June.
- It is to remind that the month of March posted a drop of 48.4% and the month of February a drop of 81.7% during the peak of the coronavirus crisis. April was back to the level of April of last year.
- China was the first major nation affected by the pandemic to restart and return to a level of sales comparable to that of 2019 as of May 2020, which is not at all the case for the European and American markets which will remain in negative throughout the year. China's weight in terms of world registrations will therefore be greater after the crisis than before the crisis.
Contact us: info@inovev.com