Passenger vehicle retail sales inChinareached 633,000 units in the December 19-25 period this year, up 13.0 percent year on year, while rising by 70 percent month on month, according to theChinaPassenger Car Association (CPCA).
Passenger vehicle wholesale sales amounted to 468,000 units in the given period, down 20.0 percent year on year, while up 3.0 percent month on month.
In the December 1-25 period, passenger vehicle retail sales amounted to 1.674 million units, up 9.0 percent year on year, while increasing by 47 percent month on month. In the given period, passenger vehicle wholesale sales came to 1.414 million units, down 17 percent year on year, while up 11 percent month on month.
Approaching the Chinese New Year holiday, some consumers concluded purchases of passenger vehicles, while the decreasing prices also stimulated the demand for passenger vehicle. At the same time, the easing of Covid-19 measures encouraged some consumers to buy vehicles, to avoid being infected.