China’s locally-made PV deliveries likely to grow 4.1% YoY in 2021: CPCA

Shanghai (Gasgoo)- China's retail sales of locally-produced passenger vehicles (merely including cars, SUV, and MPVs) are anticipated to reach 2.05 million units in December 2021, dropping 10.4% year on year, according to the China Passenger Car Association (CPCA).

The association also forecasted that the full-year PV retail sales may hit around 20.09 million units, rising 4.1% from a year ago period.

The daily PV deliveries reached around 40,000, 53,000 and 67,000 units on average for the first, second and third weeks of December, dropping 17%, 7% and 8% year on year respectively, according to the data offered by main automakers in China and compiled by the CPCA. The decrease was mainly attributed to the sporadic resurgence of the COVID-19 cases. Meanwhile, the limited recovery of supply chain from chip shortage didn’t significantly drive the sales.

The average daily retail sales are anticipated to reach 71,000 and 103,000 units for December’s fourth and fifth weeks, sliding 8% and 14% from the year-ago period, said the CPCA. 

At the end of the year, the situation of supply chain is being further improved, while dealerships are actively replenishing their inventories. Nonetheless, the car retail sales during the Spring Festival might be hit as population movement will be hampered by the reemergence of coronavirus cases, which make local governments persuade employees to stay where they work during the holiday, the association noted.