SHANGHAI, Apr 25 (SMM) – Retail sales of passenger vehicles in China improved from a month ago in April as buyers held off car purchases after the value-added tax cuts took effect.
The China Passenger Car Association (CPCA) said on Wednesday that car retail sales averaged 35,321 units per day in the first week of April, up 8% year on year. This compared to a year-over-year decline of 12.7% for the month of March.
Daily average sales stood at 33,508 units in the first three weeks of April, falling 25% year on year due to a high statistical basis in the same period of 2018.
This reflected a sluggish auto market.