Average daily passenger vehicle retail sales in China up 11% in Nov 1-15

Friday, 20 November 2020 14:54:26 (GMT+3)   |   Shanghai
       

Average daily passenger vehicle retail sales in China in the first week of November (November 1-8) amounted to 35,000 units, up 20 percent year on year, while up 42 percent compared to the first week of October, with the average daily passenger vehicle retail sales reaching 50,000 units in the second week of November (November 9-15), up 15 percent year on year, though down 13 percent compared to the second week of October, mainly due to the high base following the long National Day Holiday.

The average daily passenger vehicle retail sales in China in the first two weeks of November (November 1-15) rose by 11 percent year on year, reaching 47,608 units, while up 38 percent compared to the same period in October due to more working days in November.

On November 18, an executive meeting of the State Council announced that China will stabilize and enhance the auto vehicle consumption by encouraging local governments to increase the number of license plates, launching a new round of auto sales promotion activities in the countryside, and stimulating the exchange of old cars for new ones, including offering subsidies to rural residents who buy trucks of 3.5 mt or lower and passenger vehicles of 1.6 liters or lower, which will stimulate consumption of vehicles.


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