China s domestic car market accelerating recovery chinadaily.com.cn | Updated: 2021-03-04 15:24 Share CLOSE People visit the 18th Guangzhou International Automobile Exhibition at the China Import and Export Fair Complex in Guangzhou, South China s Guangdong province, Nov 29, 2020. [Photo/Xinhua]
The domestic car market is accelerating its recovery, with vehicle inventory falling nearly 30 percent last month, National Business Daily reported.
According to the China Automobile Dealers Association, the auto dealer vehicle inventory alert index stood at 52.2 percent in February, down 29 percent year-on-year and 7.9 percent from the previous month.
The index reflects inventory pressure for automobile dealers. It typically is lower than 50 percent when the market is healthy. It is composed of inventory, market demand, dealership finances and surveys of dealers purchases, sales and stocks.
2021-02-28 03:11:29 GMT2021-02-28 11:11:29(Beijing Time) Xinhua English
People visit the 18th Guangzhou International Automobile Exhibition at the China Import and Export Fair Complex in Guangzhou, south China's Guangdong Province, Nov. 29, 2020. (Xinhua/Lu Hanxin)
BEIJING, Feb. 27 (Xinhua) China s passenger vehicle sales are expected to surge 377 percent year on year to around 1.19 million units in February due to the low base factor last year, according to a report from an industrial association.
On a monthly basis, the sales of passenger cars, including sedans, sport-utility vehicles and multipurpose vehicles, will fall 44.9 percent considering the low demand during the country s seven-day Spring Festival holiday, data from the China Passenger Car Association (CPCA) showed.
Toyota Motor Corp. group ranked top in global auto sales in 2020 for the first time in five years on a robust pickup in sales in China and the United States, overtaking Volkswagen AG of Germany, data showed.
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