Car sales in China fell for the sixth month in a row as sporadic coronavirus outbreaks in the world’s largest car market hit retailers, despite declining processor and component shortages.
Passenger car sales in November fell 12.7 percent from a year earlier to 1.82 million vehicles, according to the China Passenger Car Association.
January-November sales increased 6.1% compared to the same period last year.
Although car production has recovered, Chinese consumer spending has been weak in recent months amid growing economic woes, and Omicron’s expansion could add to market uncertainty in the coming months, the union’s secretary general said.
SAIC Motor announced that its sales in November decreased by 6.6% compared to the previous year, while the sales of its joint venture with Volkswagen decreased by 16.5% and those with General Motors by 7.9%.
Toyota Motor announced that its sales in China fell 3.1% year-on-year in November, and those of Lexus fell 43.9% due to lack of components.
Honda Motor sales fell 20.2% in China, while Nissan Motor sales fell 27%.
In November, sales of new energy vehicles (electric and plug-in hybrids) in China more than doubled from the previous year to 378,000 vehicles.
Tesla Inc. sold 52,859 made in China vehicles in November, 40% of which were exported to other markets.
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Source From: Capital
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