China’s passenger car sales fell 35.7% in April, according to the China Passenger Car Association, as efforts to combat the coronavirus in the world’s largest vehicle market led to plant closures, reduced demand and impact. the logistics.
This is the biggest monthly drop since March 2020, culminating in the country’s first wave of pandemics, when sales were down 40% year-on-year.
China’s zero-case coronavirus policies have caused supply chain problems, with Nomura analysts estimating in mid-April that 45 cities (accounting for 40% of the country’s GDP) were under partial or complete lockdown.
Production and demand for luxury cars hit hard, with sales falling 54%.
Sales of new energy vehicles rose 50.1% year-on-year as consumers rushed to place orders, expecting automakers to raise prices.
Source: Capital
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