Chen Shihua, deputy secretary general of the China Passenger Car Association (CPCA), has stated that both production and sales of vehicles in China in April increased year on year. In particular, the production and sales of new energy vehicles continued their positive trends. However, the recovery of consumption of vehicles has been slow and so the CPCA considers that effective demand for vehicles has not been released completely and is lower than market players had been expecting.
According to Chen Shihua, vehicle sales in China will likely indicate a year-on-year rise of three percent in 2023 amid the increasing uncertainties in the vehicle market.
