Automotive vehicle retail sales in China in the second week of May declined by three percent year on year, but rose by 18 percent compared to the second week of April, signaling the further improvement in vehicle sales in China, according to the China Passenger Car Association (CPCA). In particular, average daily vehicle retail sales during the second week of May (May 11-17) amounted to 39,118 units.
As previously reported by SteelOrbis, in the first week of May sales declined by seven percent year on year, while rising by 12 percent compared to the first week of April.
The CPCA said that the long holiday in early May amid government recommendations not to travel too far away from home during the holiday boosted the demand for vehicles as consumers preferred to make short road trips with their own cars.
$1 = RMB 7.0948