Passenger vehicle retail sales in China are estimated to have amounted to 1.657 million units in March this year, down 15.0 percent year on year, while increasing by 60.0 percent month on month, according to the analysis of the car market by the China Passenger Car Association (CPCA).
Passenger vehicle retail sales in China are estimated to have totaled 4.236 million units in the January-March period this year, down 17.0 percent year on year. This is the most dismal quarterly report in the past decade, apart from the 2020 Covid-19 black swan event.
According to the CPCA, NEV retail sales in China in March are estimated to have amounted to 784,000 units, down 21.0 percent year on year, while increasing by 69.0 percent month on month. NEV retail sales in China are likely to total 1.844 units in the first three months this year, down 24.0 percent year on year, with the market share of NEVs falling from the peak in the fourth quarter of last year to 47.3 percent in the first quarter this year.