BEIJING - Demand for cars in China continues to go from strength to strength, making the automobile market in Asia's biggest economy a lone bright spot as the coronavirus pandemic puts a damper on sales in Europe and the US.
With auto sales in the US and Europe still impacted by the Covid-19 outbreak, reviving demand in China is proving a boon for international and domestic manufacturers. China is set to be the first country globally to bounce back to 2019 volume levels, albeit only by 2022, according to researchers including S&P Global Ratings.
Even as the market recovers, it may still record its third straight annual decrease, Xin Guobin, a vice minister at the Ministry of Industry and Information Technology, said last month. That's because of the heavy declines suffered at the start of the year, during the height of the outbreak.
Lets hope all these new cars are all electric and non.polluting - otherwise its terrible!