Average daily passenger vehicle retail sales in China in the first and second weeks of February (February 1-7/8-14) this year declined by 24.0 percent and 26.3 percent compared to the same periods of 2020 and 2019, according to the China Passenger Car Association (CPCA). The CPCA chose the figures in 2019 for the comparisons due to the low base of comparison in 2020 caused by the negative impact of the Covid-19 pandemic.
In the third and fourth weeks of February, average daily passenger vehicle retail sales in China will likely decrease by 2.9 percent and 7.8 percent, compared to the same weeks in 2019 as more buyers return to the market following the Chinese New Year holiday.
Moreover, it is estimated that the overall passenger vehicle retail sales in China in February will amount to 1.19 million units, up 377 percent year on year, while down 44.9 percent month on month.