It is reported that more consumers have been visiting car shops since February, a sign of a recovery in the car market.
Since the NEV subsidies were removed at the end of last year, and the trades stalled during the Chinese New Year holiday, the car market was dismal in January and finally started to pick up in February.
China Passenger Car Association (CPCA) estimated that the retail sales of passenger cars will increase by 4.3% in February from a year earlier. Industry insiders also said that consumer confidence was gaining steadily with attractive subsidies released by local governments across the country. It is agreed that car market will be back on track in March.
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