Passenger vehicle retail sales in China are expected to amount to 1.57 million units in April this year, down 1.3 percent month on month, while up 49.8 percent year on year, according to the data issued by China Passenger Car Association (CPCA). Meanwhile, new energy vehicle retail sales in China are expected to total 500,000 mt in April, down 8.4 percent month on month, with a market share of 31.8 percent.
According to the CPCA, consumers resumed more normal consumption in April following the previous wait-and-see mood which prevailed in the market. At the same time, the Shanghai Auto Show was held in mid-to-late April, boosting the focus on the auto market and helping the overall market to recover moderately.