CPCA: China’s passenger car sales to grow 1% in 2020

SHANGHAI, Nov 13 (SMM) – China’s passenger car sales are expected to pick up slightly next year, growing 1%, the China Passenger Car Association (CPCA) said earlier this week.

Retail sales of sedans, multi-purpose vehicles (MPVs) and sport utility vehicles (SUVs) dropped 8.3% year on year in the first 10 months of 2019, after a decline of 5.8% for the full 2018, showed data from the industry association.

China’s car market slipped into contraction territory in the second half of 2018, and the weakness continued into this year.

The association expected no marked sales rebound in the fourth quarter, though a potential fresh round of sales promotions in November-December will offer some support as the industry is embracing tougher vehicle emission standards.

Last month, passenger car sales rose 3.5% from September but fell 5.7% from October 2018, marking a fourth straight month of decline.