China's Domestic Demand Remains Weak, Passenger Car Sales Decline for 7 Consecutive Months

(Central News Agency, Taipei, 11th) The China Passenger Car Association recently released the latest data on automobile sales. In April, China's domestic passenger car sales were 1.384 million units, a year-on-year decrease of 21.5%, marking the seventh consecutive month of decline. From January to April this year, cumulative domestic passenger car sales were 5.604 million units, a year-on-year decrease of 18.5%. However, passenger car exports in April increased by 80.7% year-on-year.

According to reports from Chinese media such as Securities Times, based on the latest data released by the China Passenger Car Association, retail sales of conventional fuel vehicles in April were 530,000 units, a year-on-year decrease of 37% and a month-on-month decrease of 33% compared to March. Retail sales of new energy passenger vehicles in April were 849,000 units, a year-on-year decrease of 6.8% and a month-on-month decrease of 0.3% compared to March.

Exports of new energy passenger vehicles in April were 406,000 units, a year-on-year increase of 111.8% and a month-on-month increase of 18.3% compared to March. From January to April, new energy passenger vehicle exports were 1.306 million units, a year-on-year increase of 118.7%. Exports of conventional fuel passenger vehicles in April were 360,000 units, a year-on-year increase of 55% and a month-on-month increase of 5% compared to March.

Reuters reported today that China's domestic car sales have declined for seven consecutive months. The widening gap between weak domestic sales and strong exports of Chinese cars is evident. This situation is also reflected in BYD, the world's largest electric vehicle manufacturer, whose global sales have declined for eight consecutive months as of April this year, despite continued strong exports. (Edited by Chen Kai-yu / Lu Chia-jung) 1150511

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