New-car market contraction slows in March
Automotive News China
Automotive News | 2019-4-16
China's new light-vehicle market continued to decline in March but at a slower rate than recent months, the China Association of Automobile Manufacturers said. |
Sales dropped 6.9 percent to 2.02 million last month after slumping 17 percent in the first two months, according to the trade group.
It was the ninth straight month that new-vehicle deliveries declined.
In March, multipurpose vehicle demand fell 14 percent to some 151,600 while sedan sales decreased 7.5 percent to about 949,300. Deliveries of crossovers and SUVs also dropped 5.8 percent to around 867,800.
But minibus volume staged a strong rebound, jumping 14 percent to roughly 50,700.
Last month, sales of new commercial vehicles in China including trucks and buses rose 2.4 percent to roughly 501,000.
In the first three months, new light-vehicle sales shrank 14 percent to below 5.3 million while new commercial-vehicle deliveries climbed 2.2 percent to some 1.1 million
In sharp contrast to the weaker overall market, electrified vehicle demand has kept forging ahead.
In March, electrified vehicle deliveries surged 85 percent to more than 126,000. The tally includes some 96,000 EVs, 30,000 plug-in hybrids and 86 fuel cell vehicles.
In the first three months, electrified vehicle sales soared 110 percent to approach 300,000. The number includes 227,000 EVs, 72,000 plug-in hybrids and 273 fuel cell vehicles.
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