This year's Hainan International Auto Exhibition in China managed to attract millions of dollars in new transactions despite the recent economic downturn caused by the coronavirus pandemic. The 17th annual auto show held at the city of Haikou in China's island province of Hainan reportedly bagged around 1.5 billion yuan or roughly $200 million in new transactions with thousands of customers scrambling to get their hands on the latest car models.
The four-day event, which had concluded on Sunday, was held at a massive convention hall with an area of around 50,000 square meters. The exhibition is the first of its kind in the island province since the spread of the coronavirus pandemic in the country earlier in the year. The massive venue was filled with the latest car models from over 100 domestic and international automotive brands.
According to the auto show's organizing committee, more than 150,000 people came to visit the event to check out the latest offerings from popular brands. Organizers are hoping that the event would spur a much more rapid recovery in the automotive market, which had been severely affected by the disruptions caused by the pandemic.
Auto sales in China have been continually declining since 2018, a situation that was further worsened during the first quarter of this year by the spread of the coronavirus pandemic. Fortunately, car sales had slightly recovered over the past months after China implemented a number of supporting measures to spur consumer spending.
According to the China Association of Automobile Manufacturers, car sales in China rose for the first time since June 2018, with automakers selling more than 2 million vehicles in April. Major automakers had also reported a rebound in car sales over the past two months, resulting in a more optimistic outlook of a potential recovery in the world's largest car market.
Visitors at the event were assured by organizers that all necessary precautions had been taken to ensure everyone's safety. The organizers also closely worked with Hainan government officials to implement proper prevention and control measures during the event. This included the implementation of strict social distancing measures and constant disinfection. So far, Hainan has been successful in controlling the spread of the disease, with the city not reporting any new cases in weeks.
Nevertheless, all visitors and participants were thoroughly checked before being allowed to enter the venue. Organizers utilized a real-name ticketing system for all visitors, while also requiring exhibitors and staff members to undergo health QR code checks. Everyone at the event was required to wear proper protective gear.