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15 Apr 2019, Gergana Bencheva, EMIS Editor

China’s vehicles sales drop 5.18% y/y in March

Vehicle sales in China went down by 5.18% on an annual basis to 2.52 million units for March 2019, proving a slowdown in decline and a recovery of the country’s auto sector, China Daily reported referring to data provided by the China Association of Automobile Manufacturers (CAAM). The decline is even expected to end by the middle of 2019, probably by July or August.

On a monthly basis, Beijing’s auto sales for March grew by 70.09%. As for the whole first quarter of 2019, sales slipped by 11.32% on an annual basis to 6.37 million units.

The revival of the sector is attributed mostly to carmakers offering sales promotions and increased production in March. Yet, CAAM underlined that the complete recovery would depend on consumer demand. Carmakers were encouraged to seek long-term development and not focus on so much on short-term earnings, China Daily added.

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