Despite a slight MoM decline, PV wholesales maintained steady growth by 8.6% YoY to nearly 1.85 mn units, bringing YTD growth rate to 6.2% YoY. The CADA inventory index in May hits at 1.59, and YTD average index reached at 1.60.

Based on a relatively low volume level in the same month of last year, PV wholesale got a YoY growth of 12.2% in April 2018, bringing a YTD growth of 5.6%. However, the inventory index reached 1.66 in April 2018, up 7% month on month.

In March 2018, China’s Passenger Vehicle (PV) sales increased by 4.9% year-on-year (YoY) to 2.19 million units and 45.9% from 1.45 million in February. YTD PV sales increase to 5.99 mn units from 5.78 million of the same period last year.