China’s auto dealer inventory warning index higher in March

Tuesday, 06 April 2021 14:52:59 (GMT+3)   |   Shanghai
       

China’s auto dealer inventory warning index stood at 55.5 percent in March this year, 3.3 percentage points higher than in February, while 3.8 percentage points lower compared to the same month of the previous year, as announced by the China Automobile Dealers Association (CADA).

According to Lang Xuehong, deputy secretary general of CADA, the continuous downtrend in the stock market after the long Chinese New Year holiday exerted a negative impact on the auto market in March.

At the same time, the rapid growth in the January-February period of the current year consumed demand in advance, also negatively affecting the market performance in March. As for April, due to the Tomb-Sweeping Day holiday, some consumers in southern China will be unwilling to buy vehicles, which will drag down vehicle sales. However, the international auto show in spring will stimulate the vehicle market to certain extent, though Mr. Lang commented that the vehicle market could catch a “spring cold” in April. 

 


Most Recent Related Articles

NBS: China’s crude steel output up 15.6 percent in Q1

Ex-China HDG prices expected to go up further

MOC: Average steel prices in China edge up slightly last week

Masteel announces maintenance on bar production line

Bengang Plates expects 258.73 percent rise in net profit for Q1