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Xinhua: China’s March Car Sales Continued to Slide

Xinhua recently reported, based on newly released CAAM (China Association of Automobile Manufacturers) data, that China’s March domestic automobile sales suffered a year-over-year decline of 5.2 percent. Passenger car sales declined by 6.9 percent. The market has been sliding for nine consecutive months. It is estimated that the automobile market will not recover in the first half of the year. Commercial vehicles saw a mild growth due to increased government spending. One special market characteristic worth noting is that domestic brands are losing market share. In March, domestic sales dropped by 16.4 percent, reaching a market share of 41.3 percent, which represents a 4.7 percent decline. Domestic brand SUV sales declined the most. They suffered a year-over-year decline of 13 percent. Foreign brands demonstrated more flexibility in promotions.

Source: Xinhua, April 13, 2019