Hyperdrive
Car Sales in China Drop as Covid Lockdowns Kept Buyers at Home
- Passenger car sales fell 9.5% year-on-year in November: PCA
- Car sales may rebound this month ahead of subsidy reductions
Vehicles at a car sales lot in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Retail sales of passenger cars in China slipped in November as lockdowns due to the country’s still strict approach to Covid kept buyers away from showrooms.
Sales totaled 1.67 million units last month, down 9.5% from the same period of 2021 and a 10.5% drop from October, data from China’s Passenger Car Association released Thursday showed.