Retail Auto Sales in China Fall 12%

Retail deliveries of new passenger cars in China dropped 12% last month to 1.78 million units, the China Passenger Car Assn. reports.

Volume soared nearly 50% compared with February. But March’s total also marked the 10th monthly year-on-year shrinkage in customer sales. Demand for so-called new-energy vehicles zoomed 118% to 254,000 hybrids, plug-ins and all-electric units.

CPCA predicts sales will rebound this month, thanks to China’s Labor Day holiday and a reduction in the value added tax that took effect on April 1.