CPCA: China’s vehicle retail sales rise further in third week of May

CPCA: China’s vehicle retail sales rise further in third week of May

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Automotive vehicle retail sales in China in the third week of May this year decreased by five percent year on year, but rose by 4.8 percent compared to the second week of May and indicated an increase of 10.8 percent compared to the third week of April, reflecting the further improvement in vehicle sales in China, according to the China Passenger Car Association (CPCA).

Automotive vehicle retail sales in the first three weeks of May increased by six percent compared to the same period in April this year, amid the resumption of production and social activities in China.

The CPCA said that consumption of durable products, including vehicles, has seen a significant improvement in May, with booming sales activities during the Labor Day holiday (May 1-5) signaling large-scale local demand and huge potential in the Chinese domestic market. 

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