Ishika Sahni
China is the world’s largest automobile market and has many best industry of automobile there. China done a very big business in automobile every year but in 2018 and 2019 the business was low according to proceeding years and this year also. As a world is dealing with the pandemic china’s automobile industry has a bounce back stronger and faster that before. China came again in the market with their hegemony.
As we all are in a very difficult time of this covid19 pandemic the Chinese market is recovering very fast and also launching their new products. This year also shows very good for their automobile market as in April the business rose by 4.4% and in May the business rose 14.5 % from the same month of last year. Million of vehicles are sold this month according to China Association of Automobile Manufacturers (CAAM). Passenger’s vehicles were sold in India, UK and US in a very huge amount. China has grown fastly in comparison to others has so many factors beside them. China was the first country where the covid19 cases start from their city Wuhan. China has managed all the cases in spite a large number of people died there. Now there are very less number of cases in China according to the world and lockdown has opened in many cities of there.
Finance process has started there as consumers are very keen to do financial services there. The five year package has decided and on very less payment it’s started. Automakers of India and US are also started launching their products and giving good offers to the people. Some Chinese cities have also rolled out cash incentives for people who exchange their old vehicles to newer ones. Production facilities at china have also started as positive cases are coming down. Only the work has started in china in spite all the cities of world is still in lockdown and their life is still in pause. People of China are using personal transport at this time because cases are declined but there are a fear in them. In some cities the use of public buses and metros are lower than before for their safety. There government are providing incentives to them for the recovery and decreasing the price of the products so that the markets can work.
Government around the world are also providing incentives for less polluting electric vehicles, especially in current times. France, Germany, UK, India are arranging parts to make vehicles. China will recover fast in few months according to other countries.
