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China’s Passenger Car Sales Dip 13.4% as Price War Rages
Published on: 2023-04-11
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Growth in sales of China's passenger vehicles was flat in March from a year earlier, industry data showed on Monday, as more price cuts by auto brands and the rollout of incentives by local governments helped to support demand.
 

Car sales in March were 1.61 million units, the China Passenger Car Association (CPCA) said. In the first three months, sales had fallen 13.4% to 4.33 million units, it added.
 

Sales of new energy vehicles (NEVs), which include pure battery electric cars and plug-in hybrids, rose 21.9% in March and accounted for 34% of the month's sales, the data showed.
 

BYD led the segment with market share of 35.5%, while Tesla accounted for 14%.
 

More than 40 brands have joined a price war started by Tesla this year, among them Nissan, Toyota and Volkswagen, which have started offering aggressive discounts on their best-selling ICE models to defend market share.
 

Local authorities, who see the auto industry as a pillar of the economy, have also been rolling out buyer subsidies to drive demand and some of these programmes have started to extend to automakers, to spur manufacturing.
 

一季度国内乘用车销量同比下滑13%

乘联会开始发布3月份的销量数据了。
 

3月份狭义乘用车总销量158.7万辆,环比在大力降价促销下增长了14.3%,但却是本世纪以来最弱的3月环比增速,而同比仅微增0.3%,只能说是与去年同期持平。如果看整个一季度,乘用车累计零售初步统计在426.1万辆,同比下降13.4%。毫无疑问,车市所承受的压力将是巨大的。

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