China’s passenger vehicle retail sales to fall by 11% this year

Wednesday, 22 July 2020 11:24:51 (GMT+3)   |   Shanghai
       

Wholesale passenger vehicle sales in China in the first half of the current year amounted to 7.667 million units, down 22.9 percent year on year, while retail vehicle sales in the given period totaled 7.709 million units, down 22.5 percent year on year, according to the China Passenger Car Association (CPCA). Meanwhile, retail sales in the first quarter and the second quarter indicated year-on-year declines of 41 percent and three percent, respectively, signaling a rebound in the second quarter.

The CPCA said it foresees that retail passenger vehicle sales in China will decline by 11 percent in the current year. 


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