China auto sales likely plunged 18% in January – News of Bahrain- DT News

China auto sales likely plunged 18% in January – News of Bahrain- DT News

China auto sales likely plunged 18% in January. Auto sales in China are likely to have fallen 18% in January, their 19th consecutive month of decline, an industry body said as the outbreak of the new coronavirus began to hit the industry.. Sales of new energy vehicles (NEVs) plunged 54.4%, down for a seventh month in a row, preliminary data from China Association of Automobile Manufacturers (CAAM) showed, according to Reuters.. Automakers need to get used to a new normal of "low speed growth" in China, CAAM said last month, predicting sales are likely to shrink 2% in 2020, the third consecutive year of contraction.. The coronavirus has led some automakers to postpone the resumption of production after the holiday.. In Hubei, the central province where the outbreak began, and a major vehicle making hub responsible for nearly 9% of China's output, Dongfeng Motor Group Co Ltd and its partners Honda Motor Co Ltd Renault SA and Peugeot SA have all said they would delay production.. The operating plants outside Hubei province such as Volkswagen AG and General Motors have said they will keep some factories idled for one or more weeks.. It restarted production in Shanghai on Monday with