The China Passenger Car Association (CPCA) revealed on Wednesday that the retail sales of passenger vehicles in the country have reached 1.29 million units, plunging by 40.4% in comparison to the month before. On a yearly basis, the sales of passenger vehicles sank by 37.9%.
The sales of new-energy vehicles fell 6.3% on an annual basis, and 48.3% on a monthly one to reach 332,000 units. Meanwhile, Tesla Inc. sold 66,051 units, going up by 18% in comparison to the figure registered in December. The American electric carmaker cut prices of its vehicles in China last month, which seemingly boosted the increase in its orders, according to the association.
Cui Dongshu, the association's secretary general, claims that the price of in-demand cars is still "under pressure" and that customers have entered a "transitional stage of waiting and observing policies."
