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Shanghai (Gasgou)- Retail sales of passenger vehicles (“PV”) in China are expected to reach 1.36 million units in January 2023, according to China Passenger Car. Association (“CPCA”).
For clarity, passenger cars refer to locally produced passenger cars, SUVs and MPVs in the world’s largest automotive market.
Daily PV retail sales in the first and second weeks of January 2023 reached approximately 44,600 and 51,700 units, down 24% and 18% year-on-year, respectively. CPCA.
The third week of January is likely to record a steep 65% year-on-year drop, with a daily average of around 26,000 PV retailed across China. 82,000 vehicles on average.
The decline in solar power sales in January may be partially due to the Lunar New Year holiday and excessive demand caused by the government’s withdrawal of subsidies for new energy vehicles, as well as other factors, the association said. says.
Moreover, retail sales of new energy passenger vehicles in January are expected to reach about 360,000 units, up 1.8% year-on-year, with a penetration rate of 26.5% in the PV market, CPCA added.
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