China PV retail sales likely to reach 2.315 million units in Dec., said CPCA

The retail sales of China's locally-produced PVs (referring to cars, SUVs and MPVs) are forecasted to reach 2.315 million units in December, rising roughly 7.9% year on year, according to the China Passenger Car Association (CPCA).

The CPCA's data show that the average daily PV retail sales stood at 38,366 units and 53,414 units for the first and second weeks of December, jumping 26% and 15% year on year respectively. Hence, for the first two weeks, the daily volume amounted to 46,469 units on average, posting a vigorous year-over-year growth of 19%.

Automobile dealers gained delivery growth in early Dec., thus the pressure on fulfilling the monthly sales goal was correspondingly relieved. The reasonable delivery pace was thanks to the stable macro-economic climate, the high car shopping demands buoyed by the personalized travelling options for winter, and dealers' restored confidence over the robust retail performance of the overall PV market, said the CPCA.

The demands from export business ran high in recent months and will grow rapidly compared to the year-ago period over the next few months, according to the association.

Besides, the traffic restrictions for non-local plates implemented in Shanghai and the new license plate lottery policy issued in Beijing will substantially lift new energy vehicle (NEV) sales in December.

Due to the aforesaid tailwinds, the CPCA expects the average daily PV retail sales for the third week of December to grow around 14% over a year ago. The weekly retail volume is likely to jump 16% from the prior-year period in the fourth week.