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China’s locally-made PV retail sales expected to drop 6.2% YoY in Jan. 2022: CPCA

Monika From Gasgoo| January 26 , 2022 11:01 BJT

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 Jan. 2022, dropping 6.2% year on year, according to the China Passenger Car Association (CPCA).

China’s locally-made PV retail sales expected to drop 6.2% YoY in Jan. 2022: CPCA

The daily PV retail sales reached around 58,000 units on average for the first week of January, climbing 6% from the year-ago period, while the retail volume for the second week slid 2% year on year to roughly 63,000 units per day averagely, according to the data offered by main automakers in China and compiled by the CPCA. The decrease was mainly ascribed to the COVID-19 resurgence, said the association. Meanwhile, the limited recovery of supply chain from chip and raw material shortage didn't vigorously drive the sales.

The average daily PV retail sales are anticipated to reach about 56,000 and 90,000 units for January's third and fourth weeks, dipping 3% and 15% from the previous year, said the CPCA. The decrease expected for the fourth week partly resulted from one workday fewer than that of the prior-year period.

In light of sporadic resurgence of COVID-19 cases, many places have called on people to stay where they live and work during the Spring Festival holiday, which falls in early Feb., to reduce people's movements. However, people's response to the call for celebration in place was evidently weaker than the previous year, representing an upside for car shopping following homecomings, said the CPCA.

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