The sale of cars in China is picking up again

06.04.2020

The sale of cars in China is picking up again. According to first estimates, China sold 2.14 million passenger cars and small vans in May. That would be around 12 per cent more than in the same month last year, the China Association of Automobile Manufacturers reports. It is the first monthly growth in almost two years.

The CAAM previously reported that after lifting most of the corona restrictions, the Chinese have clearly found their way back to the showroom since mid-April. Volkswagen and Daimler also spoke of a hopeful recovery in Chinese car sales.

Not too optimistic

However, CAAM warns against too much optimism: «It does not seem to be a complete recovery of the market, which suffered from a slump in the economy, the trade conflict between China and the US and the loss of consumer confidence even before the corona crisis.»

In the first five months of this year, 7.9 million vehicles were sold in China, still nearly a quarter less than a year earlier. The car manufacturers’ organisation still assumes that the market will decline by around 25 per cent throughout 2020.

Analytics on topic
Article
05.27.2020
298 automobile factories operating across Europe, new data shows
298 automobile assembly and engine production plants operate in Europe today, according to freshly-updated data from the European Automobile Manufacturers’ Association (ACEA). Cars, vans, trucks, buses and engines are manufactured at these factories, 196 of which are situated within the European Union (EU27).
Source: European Automobile Manufacturers Association
Article
05.15.2020
Coronavirus: China’s uneven economic recovery continued in April, as industrial engine returned to growth
In April, China’s industrial output grew by 3.9 per cent, retail sales fell by 7.5 per cent and fixed asset investment fell by 10.3 per cent, suggesting an uneven recovery. Data suggests demand weaknesses remain, while for industrial engine overseas shutdowns will hamper growth before long.
Source: South China Morning Post