That represents a 5.6 percent drop year on year, but it is a vast improvement from the 79 per cent plunge registered in February, the industry’s worst month, as sales came to a near standstill.
While there were initial concerns about unfilled order books, anecdotal evidence so far indicates that a growing number of people are keen to buy their own vehicles to avoid public transport, though most prefer foreign makes. “ will put significant financial pressure on all car brands in China, especially those who were unable to secure a significant market share such as DS, Jaguar and Suzuki,” the market insights firm said.During the 2008 financial crisis, the Chinese government announced a mammoth financial stimulus package amounting to nearly US$568 billion – or about 7 percent of gross domestic product at the time.
“Customers who were unable to buy a car over the last few months are now eagerly visiting our dealers,” Mr Wollenstein wrote in a note posted on LinkedIn.
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ABSCBNNews - 🏆 5. / 83 Read more »