China's passenger car retail sales slow decline in 3rd week of Aug: CPCA

SHANGHAI, Aug 29 (SMM) – Declines in China's retail sales of passenger vehicles in the third week of August (August 19-25) slowed from the previous two weeks, indicating slight recovery of the car market, the China Passenger Car Association (CPCA) said on Wednesday August 28.

Daily average retail sales of passenger vehicles during August 19-25 fell 17% from the same period last year to stand at 44,000 units. This compared with a year-over-year drop of 31% in the first week of August (August 1-11). 

Retail sales improved in the second week of August (August 12-18), with a smaller year-on-year decline of 12%. 

CPCA expects car sales to further improve in the weeks ahead.