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May 22, 2017

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Passenger car sales post an unexpected decline

CHINA’S passenger car sales fell 0.2 percent to 7.09 million units in the first four months of this year, below an earlier estimate of a 2 percent rise, according to the data released by the China Passenger Car Association.

The country’s passenger car sales grew 0.8 percent year on year to 1.66 million units in April, a sharp slowdown from the 2.9 percent gain in March, the association said.

“The growth of the market is far below our expectations,” said Cui Dongshu, secretary-general of the association.

Sales of sedans and multi-purpose vehicles reversed 3.9 percent and 24.2 percent in April from a year ago to 836,425 and 135,178 units respectively, the association’s data showed.

The China Passenger Car Association said the sport-utility vehicle segment was the only one that grew, with sales surging 15.1 percent from a year ago to 689,387 units.

“Sales increase of the sport-utility vehicles was seen in the mid-sized and large-sized models, mainly driven by the second-child policy,” Cui said.

Sales of new-energy vehicles rose 6 percent from March to 29,222 units in April.


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