Workers are busy on the production lines at the workshop of Dongfeng Passenger Vehicle Company in Wuhan, central China's Hubei Province, March 24, 2020. Wuhan, China's "motor city" and the epicenter of the novel coronavirus outbreak, has allowed car producers and auto part suppliers to resume work recently. The Dongfeng Passenger Vehicle Company has resumed production following epidemic prevention and control rules. (Xinhua/Xiao Yijiu)
With extended subsidies and tax exemptions in place, China is set to see a gradual thaw in its flagging car market after restrictions on social life were eased and dealerships reopened.
BEIJING, April 10 (Xinhua) -- China's auto production and sales rebounded remarkably in March, adding to signs of a gradual thaw in the car market, the China Association of Automobile Manufacturers said Friday. Automobile output stood at 1.42 million units last month, up 399.2 percent from February, while sales hit 1.43 million units, representing a month-on-month growth of 361.1 percent. During the first quarter, China's auto production and sales amounted to 3.47 million units and 3.67 million units, down 45.2 percent and 42.4 percent, respectively, year on year. The country's authorities have implemented a raft of measures to revive the world's biggest car market which has been weighed down by the novel coronavirus epidemic in recent months. With extended subsidies and tax exemptions in place, China is set to see a gradual thaw in its flagging car market after restrictions on social life were eased and dealerships reopened. The auto industry is experiencing a phase of adjustment from quantity expansion to quality improvement and still has a huge future market, Cai Ronghua, a senior official with the National Development and Reform Commission, told a press conference on Thursday. ■