Passenger vehicle sales drops 32% m/m in Feb

The passenger vehicle sales volume in February reached 663,468 units in China, down 32 percent month-on-month; of which, car sales stood at 574,465 units, up 36.9 percent year-on-year but down 32.8 percent month-on-month, according to the National Passenger Vehicles Association.

In February, the MPV sales volume was 25,190 units, down 30.2 percent month-on-month and up 36.9 percent year-on-year, while the SUV sales volume was 673,813 units, down 24.7 percent month-on-month and up 75.9 percent year-on-year.

Shanghai Volkswagen, Shanghai General Motors, FAW Volkswagen, BYD, Beijing Hyundai, Dongfeng Nissan, Chery, Guangqi Honda, Geely and Chang'an Ford became the top-10 automakers in China in February in terms of sales volume; the sales volumes for the top-3 stood at 58,197, 58,182 and 51,107 units respectively.

Sinotrust predicted that China's output and sales volume of passenger vehicles will rise by about 30 percent in March. More than 10 brand-new models will be launched this month, stimulating sales to a certain degree.

At the same time, more people will intend to buy a vehicle as the warmer weather will facilitate trips. In addition, potential customers will buy vehicles in March because auto prices will drop slightly and vehicle delivery will be faster.