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On October 28, data released by the China Passenger Car Association (CPCA) showed a notable downturn in the national passenger car market. Specifically, from October 1 to 25, retail sales of passenger cars across the country plummeted to 1.145 million units, marking a significant 26% decline compared to the same period last October. However, sales remained relatively stable on a month-on-month basis. The cumulative retail sales for the year so far have reached 14.479 million units, reflecting a 22% decrease year-on-year.
In the same timeframe, wholesale volumes from passenger car manufacturers also experienced a downturn, reaching 1.384 million units, a 22% decrease year-on-year. Nevertheless, there was a slight uptick of 3% compared to the previous month. The cumulative wholesale volume for the year has totaled 21.121 million units, showing a 7% decrease year-on-year.
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