China's vehicle production expected to decline 11.5pc in 2020: IHS Markit
CHINA's light vehicle production will drop 11
CHINA's light vehicle production will drop 11.5 per cent this year to around 21.6 million vehicles and will rebound by 7.5 per cent next year, research firm IHS Markit predicted, reported Reuters.
'The latest forecast takes the extended shutdown of auto plants in March and the supply chain disruption caused by the extended shutdown of the plants in Hubei province into consideration,' IHS Markit said in a post on its social media WeChat account.
'For Chinese automakers which purchase auto parts from Europe, the disruption of production in Europe may be a risk factor. But at this stage, we have not seen the European coronavirus epidemic directly affect Chinese auto production,' IHS Markit added.
China's Association of Automobile Manufacturers (CM), which expects China's overall auto sales to drop 5 per cent this year, is calling on the government to help after industry-wide sales plunged a record 79 per cent in February from a year earlier, with demand pummeled by the coronavirus pandemic.