China's automobile dealers quicken pace to resume work
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China's auto sector has steadily advanced production resumption weighed down by the novel coronavirus outbreak, industrial data showed.

Among the surveyed 8,721 4S shops nationwide, 98.8 percent of them have resumed operations as of 4:00 p.m. Friday, the China Automobile Dealers Association (CADA) said.

The Chinese auto market is gradually getting back on track amid epidemic control, with policy incentives in place to unleash potential demand, according to the CADA.

China's auto output and sales in the January-February period plunged by 45.8 percent and 42 percent to 2.05 million and 2.24 million, respectively, data from the China Association of Automobile Manufacturers showed.

To prop up growth, a State Council executive meeting at the end of March decided to extend subsidies and tax exemptions for new energy vehicle purchases by another two years, which were set to expire at the end of this year.

Source: Xinhua
2020-04-07

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