CPCA: Passenger Car Sales Estimated at 1.83 million Units in June, up 35% MoM

SHANGHAI, Jun 27 - On the evening of June 23, the China Passenger Car Associations (CPCA) said through its official social media account that retail sales of narrowly-defined passenger cars in June were estimated at 1.83 million units, up 15.5% year-on-year and 35.2% month-on-month.

According to CPCA, the pandemic situation improved greatly in June. And Shanghai, as the most important auto production base in the country, implemented a phased lifting of COVID lockdown, with most vehicle makers and parts enterprises having achieved full resumption of work and production. Combined with special domestic measures to address problems concerning the logistics and transportation congestions, the production capacity on the supply side of the vehicle industry chain is being fully released. Terminal 4S shops gradually resumed business, and the number of consumers entering the shops and placing orders has also improved significantly compared to last month.

Specifically, the average daily retail sales of major manufacturers in the first, second and third weeks of June recorded a growth of -3%, 25% and 39% respectively YoY, indicating an improving market as the production is in the process of resuming.

According to the latest data from CPCA, the national passenger car market retailed 935,000 units of vehicles from June 1-19, up 24% year-on-year (up 42 percentage points from last month's cumulative year-on-year growth rate) and 43% month-on-month; the national passenger car manufacturers wholesaled 944,000 units, up 34% year-on-year (up 57 percentage points from last month's cumulative year-on-year growth rate) and up 52% month-on-month.