Passenger vehicle retail sales in China in January this year will likely amount to 2.09 million units, according to the China Passenger Car Association (CPCA).
Since the Chinese New Year holiday was in late January last year, resulting in high levels of passenger vehicle retail sales ahead of the holiday, in the January 1-10 and January 11-17 periods this year passenger vehicle retail sales in China declined by 2.1 percent and 8.9 percent year on year, respectively.
In the January 18-24 period this year, passenger vehicle retail sales will likely rise by 66.7 percent year on year due to the low base in the same period last year. The year-on-year growth of passenger vehicle retail sales in the January 25-31 period is expected to be 13.2 percent.