Retail sales of new cars and light trucks, after sliding in January, will rise 7.2 percent in February from a year earlier due to eased coronavirus infections and more working days, the China Automobile Dealers Association predicted on Wednesday.
Some 1.35 million new sedans, crossovers, SUVs and multi-purpose vehicles are expected to be delivered in China during the month, the trade group said.
Demand for electrified vehicles including full electric vehicles and plug-in hybrids rebounded sharply in February, with monthly deliveries expected to surge 47 percent to some 400,000, it added.
The week-long Chinese New Year holiday began on January 21, putting a dent in sales to start the year. Last year, the holiday started on January 31.
Because of lingering coronavirus outbreaks and fewer working days as a result of the holiday, the new-car market slumped 38 percent to 1.29 million in January.
Sales of electrified vehicles also dipped 6.1 percent to roughly 333,000 in January, according to the CADA’s tally.