China car sales up 34% on April but still weaker than last year – industry – Reuters

May 26, 2022 by No Comments

Cars drive on the road during the morning rush hour in Beijing, China, July 2, 2019. REUTERS/Jason Lee

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SHANGHAI, May 26 (Reuters) – Chinese retail car sales data for May has added to a picture of a grinding economic recovery from severe anti-pandemic measures, with manufacturers selling more vehicles than last month but still fewer than a year before.

Releasing the data late on Wednesday, the China Passenger Car Association called for more government support.

Retail sales in the first three weeks of May, 780,000 vehicles, were up 34% on the same period in April. But, with measures to control COVID-19 outbreaks depressing incomes, the sales volume was 16% lower than 12 months earlier, the industry association said.

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Movement and social activity was heavily restricted in cities across China last month. Rules vary from place to place but have been eased where they were strictest, such as Shanghai.

Automobile sales in the first quarter were 0.2% higher than a year before. For 2021, sales were up 3.8%.

The picture of a grinding and only partial economic recovery that appears in automobile sales is also seen in other near-real-time indicators.

Road freight transportation and express delivery from distribution centers last …….

Source: https://www.reuters.com/business/autos-transportation/china-car-sales-up-34-april-still-weaker-than-last-year-industry-2022-05-26/

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