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MNI INTERVIEW: China Car Sales To Recover After April Drop

MNI (BEIJING)
MNI (Beijing)

China's retail car sales will return to positive month-on-month growth in May and June, while year-on-year growth remains uncertain, a car industry expert tells MNI.

China’s month-on-month automobile sales will turn positive in May and June following April's 9.4% fall, a key factor behind slowing domestic consumption, as prices stabilise and government trade-in policies take effect, but year-on-year growth remains uncertain, a leading industry expert told MNI.

Consumers had delayed purchases in April as they awaited greater price stability, particularly among internal combustion engine (ICE) vehicles, said Cui Dongshu, secretary-general at the China Passenger Car Association (CPCA), pointing to the 5.7% y/y fall of domestic passenger car sales to 1.5 million units last month.

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China’s month-on-month automobile sales will turn positive in May and June following April's 9.4% fall, a key factor behind slowing domestic consumption, as prices stabilise and government trade-in policies take effect, but year-on-year growth remains uncertain, a leading industry expert told MNI.

Consumers had delayed purchases in April as they awaited greater price stability, particularly among internal combustion engine (ICE) vehicles, said Cui Dongshu, secretary-general at the China Passenger Car Association (CPCA), pointing to the 5.7% y/y fall of domestic passenger car sales to 1.5 million units last month.

Keep reading...Show less