China’s locally-made PV retail sales anticipated to drop 31.9% YoY in April 2022: CPCA

Shanghai (Gasgoo)- China's retail sales of locally-produced passenger vehicles (merely including cars, SUV, and MPVs) are anticipated to reach 1.1 million units in April 2022, sliding 31.9% year on year, according to the China Passenger Car Association (CPCA).

The daily PV retail sales for the first and second weeks of April reached 24,600 units and 26,700 units on average, shrinking 32% and 39% from a year ago respectively, according to the data offered by main automakers in China and compiled by the CPCA.

For the third and fourth weeks of the month, the average PV retail volume is forecasted to be 36,000 units and 69,000 units on a daily basis, which will reflect a year-on-year drop of 35% and 26% from the corresponding period in 2021.

As for the new energy vehicle (NEV) sector, some leading automakers faced a short-term sales decline partly due to the supply constraints, while the other carmakers still recorded relatively positive sales performance. The association predicted that new energy vehicles would account for around 25% of the PV retail sales in April in China.