ECONOMY

Passenger Cars

Sales of passenger cars in China continued to warm up in April as pent-up demand was unleashed, but the foundation for a “V-shape” rebound is yet to solidify due to the lingering uncertainties caused by the impact of the novel coronavirus disease (COVID-19) epidemic, industry data showed on May 11.

The retail sales of passenger vehicles amounted to 1.43 million units in April, down 5.6 percent year on year but recovering from the 40-percent drop in March and 79-percent fall in February, according to the China Passenger Car Association (CPCA).

Passenger car sales surged 36.6 percent month on month, reversing the usual seasonal trend and suggesting a relatively quick recovery in demand following further domestic containment of the epidemic.

While the overseas spread of the virus may have affected consumer confidence,