China Car Sales Post First Weekly Rise Since Virus Outbreak
By Aiko Tanaka
1 min read
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China’s retail sales of passenger cars in the week of April 7-12 rose 14% from a year earlier, marking the first weekly rise reported since the coronavirus outbreak, data from the China Passenger Car Association (CPCA) showed.
The coronavirus crisis likely knocked China’s economy into its first decline since at least 1992 in the first quarter, raising the pressure on authorities to do more to restore growth as mounting job losses threaten social stability.
Sales for the first 12 days of the month were down 12% the CPCA data showed