China’s PV wholesale volumes show first-time YoY drop of 4% in 2018

According to the China Passenger Car Association (CPCA), China’s passenger vehicle (PV) retail sales reached 22,350,562 units in 2018, declining 5.8% over a year ago. Meanwhile, the country’s PV wholesale volume also fell 4.0% from the previous year (the “PV” mentioned here refers to cars, SUVs and MPVs locally produced in China).