China Passenger Car Inventory Improved Remarkably at end of April

On May 19, Cui Dongshu, secretary-general of the CPCA, posted on his personal WeChat public account that cumulative retail sales of passenger cars from January to April were 5.92 million units, a year-on-year decrease of 1%. Affected by the wait-and-see atmosphere brought about by the chaotic sales promotion, the retail sales of the passenger car market in April reached 1.63 million units, and the retail sales trend in April was better than expected.

Due to the need to maintain growth, the production in March was high, and the production in April dropped sharply. However, the domestic fuel vehicle market stabilised slowly in April, causing the inventory of manufacturers and dealers to drop to 3.23 million units at the end of April. It is estimated that the inventory is sufficient for 49 days of retail sales, and the inventory status has improved significantly.

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