BUSINESS

China Passenger-Vehicle Sales Slide 22% as Buyers Hold Back

Published: Apr. 13, 2026 11:06 p.m. GMT+8

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Consumers browse and purchase vehicles at an auto show in Huai’an, Jiangsu province, on Jan. 3, 2026. Photo: VCG

China’s wholesale passenger-vehicle sales fell 22% year-on-year to 4.2 million units in the first quarter of 2026, as consumers held off on purchases, waiting for deeper price cuts and local trade-in subsidies.

Speaking at an industry forum on April 12, Xu Changming, a senior economist at the State Information Center, attributed the sluggish start to a prevailing wait-and-see attitude among buyers holding out for better deals and clearer policy incentives.

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