China’s Auto Sales Rebound as Price War Cools

Automakers in China watched as sales picked up speed in April as the ongoing price war has cooled, leaving consumers keener to buy following a sluggish first quarter.

The industry reported some big growth numbers for last month, with domestic sales for passenger cars rising 55.5% year-on-year to 1.63 million vehicles, exports jumping 227% to 300,000 vehicles, and overseas shipments of new-energy vehicles (NEVs) surging more than tenfold, according to data released Tuesday by the China Passenger Car Association (CPCA). All the figures benefitted from a low base of comparison in April 2022, when the entire city of Shanghai was in lockdown to prevent Covid from spreading.