CPCA: China’s passenger vehicle sales start to stabilize in March

Thursday, 04 April 2019 11:42:48 (GMT+3)   |   Shanghai
       

In the first week of March this year, the average daily retail sales of passenger vehicles in China amounted to 34,000 units, down 25 percent year on year, though this is an improvement compared to the year-on-year declines of more than 40 percent recorded in the first weeks of previous months, as announced by the China Passenger Car Association (CPCA). In the second week of March, the average daily retail sales of passenger vehicles in China totaled 40,000 units, down 15 percent year on year. Meanwhile, the average daily retail figure totaled 44,700 units in the third week of March, showing a further improvement compared to the second week. Overall, it is estimated that the average daily retail sales of passenger vehicles in China will decline by 12 percent year on year for the full month of March.

The CPCA stated that the increasing investment in the auto industry, especially in new energy vehicle manufacturing technology, will exert a negative impact on automakers’ profit margins.

 

 


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