- Overall passenger car retail sales in April are estimated to be around 1.75 million units, up 14.4 percent year-on-year but down 9.8 percent from the previous month.
- The first week of April was the Qingming Festival holiday, while the second week saw windy weather in some parts of China.
China’s new energy vehicle (NEV) retail sales are set to decline this month from March, likely due in part to a public holiday and bad weather.
In April, retail sales of passenger NEVs in China were estimated at 900,000 units, with the penetration rate rebounding to 51.4 percent, the China Passenger Car Association (CPCA) said in a report today.
This represents a year-on-year increase of 33.24 percent, but a decline of 9.18 percent from March.
Based on preliminary projections, China’s retail sales of passenger cars in April will be at around 1.75 million units, up 14.4 percent year-on-year but down 9.8 percent from the previous month, according to the CPCA.
Passenger car makers that contribute 80 percent of retail sales are targeting a 7.1 percent year-on-year increase in retail sales for the month, but about 10 percent lower than last month’s target, the CPCA said.
The discount rate for the overall auto market in mid-April was about 23.7 percent, slightly narrower than at the end of March, according to the CPCA.
The first week of April was the Qingming Festival holiday, while some areas of China were hit by windy weather in the second week, resulting in a negative impact on store traffic, the CPCA said.
China’s average daily retail sales of passenger cars in the first week of April averaged 34,900 units, up 2.1 percent year-on-year but 13.6 percent lower than the same period last month.
Average daily retail sales of passenger cars in week two were 43,700 units, up 12.6 percent year-on-year but 13.7 percent lower than the same period last month.
Average daily retail sales of passenger cars in week three were 54,500 units, up 17.0 percent year-on-year but 3.0 percent lower than a month earlier.
Average daily retail sales of passenger cars in weeks 4-5 are estimated at 85,300 units, up 17.3 percent year-on-year but 1.2 percent lower than the same period last month, according to the CPCA.
Tesla moved up to No. 3 in China’s NEV market in March, up from No. 7 in February, as its local deliveries improved.
