China’s wholesale passenger vehicle sales to total 1.59 million in June

Tuesday, 11 June 2019 12:18:36 (GMT+3)   |   Shanghai
       

Wholesale passenger vehicle sales in China in June this year are expected to total 1.59 million units, down 13.3 percent year on year, as announced by the China Passenger Car Association (CPCA).

In particular, the CPCA estimates passenger car sales in China in June will amount to 805,000 units, down 16.5 percent year on year, while sales of multi-purpose vehicles (MPV) will total 96,000 units, down 23.5 percent year on year, and the sales of sports utility vehicles (SUV) will amount to 689,000 units, down 7.6 percent year on year.

The CPCA stated that buyers in the auto vehicle market lack confidence due to the rise in trade tensions between the US and China, though automakers and auto dealers have been pushing to achieve their sales targets and have been willing to lower their sales prices. Meanwhile, the volume of funds entering the property market will continue to negatively impact the amount of money entering the car market, the CPCA stated.

 


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