Beijing, March 12: With China recording nearly 89 percent slump in auto sector, companies are offering cash incentives to customers to revive sale of cars. In the southern city of Guangzhou, which is the hub of Japanese automobile manufacturers Toyota, Honda and Nissan, the government is considering measures to subsidise the sale of electric vehicles

In Xiangtan, which houses three million citizens, Geely - the state-owned car manufacturer - is offering 3,000 yuan ($429) - to customers opting to buy vehicles made by the company. COVID-19 Update: China Says Peak of Current Outbreak of Coronavirus Disease in the Country Is Now Over.

In neighbouring city of Foshan, car manufacturers have decided to offer 2,000 yuan to customers buying new cars, whereas, 3,000 yuan would be offered to those replacing their existing cars.

According to China Passenger Car Association (CPCA), the slump in auto sector has deepened in the last 23 days of February, with the sales sliding by nearly 90 percent. In January, the numbers had dropped to 18.7 percent vis-a-vis 2018.

The overall death toll due to coronavirus surged to over 3,000 in China, with the maximum casualties being recorded in the central province of Hubei. Wuhan, the provincial capital, is considered as epicentre of the disease outbreak.

The Xi Jinping government in China on Thursday claimed that the country has witnessed the peak of coronavirus outbreak. In the days to come, the new cases would be minimised and the casualties per day would also shrink. The announcement came a day after the World Health Organisation (WHO) declared coronavirus a "pandemic".

(The above story first appeared on LatestLY on Mar 12, 2020 03:00 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).