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Car Sales Will Remain Slow Over Short Term - Association

CHINA PRESS

Chinese car buyers are expected to maintain a wait-and-see approach amid a new round of price competition between sellers, which was not conducive to releasing demand, according to the China Passenger Car Association. Data showed car sales in February hit 1.15 million units, down 43.5% m/m, as the spring festival impacted buying. Additionally, buyers concerns about battery life had increased due to recent cold weather and led to suppressed sales of NEVs. The association expects February to mark the yearly low point for car sales in 2024. (Source: Yicai)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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