Daily sales of car in China increased in 1st week of May: CPCA
Car market in China continued to recover at a steady pace and is likely to gain growth momentum in May and June. The daily retail sales of passenger vehicles averaged 32,000 units in the first week of May (May 1-10).
That was an increase of 12 per cent from the fourth week of April, according to latest data from the China Passenger Car Association (CPCA). The daily retail sales of passenger vehicles dropped 7 per cent year-on-year.
The Labour Day holiday meets people’s pent-up demand for self-drive tours following the easing of lockdowns. Stimulus measures including subsidising new car buyers and those who trade in their old cars for new ones lifted passenger car consumption, Shanghai Metals Market reported.
Separately, CPCA data said that China’s wholesale deliveries of new energy passenger vehicles in April stood at 64,000 units, down 30 per cent from the same period last year but up by 14.8 per cent month-on-month as the business recovered from the fallout from the coronavirus crisis.
Grow with
AL Circle
