Passenger vehicles sales in China estimated to continue declining in June and July 2019

According to Shanghai Metals Market, China Passenger Car Association (CPCA) has shared its estimation today, May 31, that passenger vehicles sales will continue to trend downwards in the next two months. While in June, the sales volume is estimated to come in at 1.59 million units, in July at 1.56 million units, 1.9 per cent down month-on-month.

Inventory pressure will spur dealers to extend promotional activities, CPCA believed.

Separately, the wholesale of sport utility vehicles (SUVs) in June is projected to inch down 7.6 per cent to 689,000 units, compared to 741,364 units in the same period last year. This, according to CPCA, is the smallest decline in comparison with other types of passenger vehicles. However, from 663,507 units in April 2019, the estimated wholesale volume of SUVs in June is 3.7 per cent higher.

The wholesale volume of sedans, on the other hand, is expected to be at 805,000 units in June, down 16.5 per cent from 937,825 units in the corresponding period last year, but up 1.3 per cent from 794,535 from April 2019.

Wholesale of multi-purpose vehicles (MPVs) is likely to shrink 23.5 per cent to 96,000 units in June, but up 4.2 per cent from April 2019.

Data from CPCA showed the retail sales of sedans, SUVs, minivans, and MPVs fell 16.6 per cent on the year to 1.54 million units in April. This followed a 12 per cent decline in March and 18.5 per cent drop in February.

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