Passenger vehicle retail sales in China down one percent in late March

Thursday, 08 April 2021 16:40:17 (GMT+3)   |   Shanghai
       

Average daily passenger vehicle retail sales in China in the fourth week of March (March 22-31) this year declined by one percent to 75,000 units compared to the same period in 2019, according to the China Passenger Car Association (CPCA). The CPCA chose the figure in 2019 as the comparison for weekly analysis due to the low base in 2020 due to the negative impact of Covid-19.

The China Association of Automobile Manufacturers (CAAM) mentioned that previously they had expected that the supply shortages of chips would likely ease in six months, while now they think from nine months to 12 months may be needed. It also stated, “Multiple factors affected the supply and demand conflict as regards the chip issue in the auto industry, while auto sales in China in the current year may see downs first and ups later.”


Most Recent Related Articles

CAAM: China's auto vehicle output and sales rise by over 70% in March

Average daily passenger vehicle retail sales in China down 5% in March

CAAM: China’s auto vehicle output up 1.2-fold in Mar 1-20

Imbalance of auto chip supply and demand to ease in Q3

Passenger vehicle retail sales in China to rise by 66 percent in March