Home News Sales Of Luxury Vehicles Rebound In China Amid Coronavirus Pandemic

Sales Of Luxury Vehicles Rebound In China Amid Coronavirus Pandemic


While car sales throughout the planet have been crippled by the coronavirus, it’therefore emerged that sales of luxury automobiles have bounced in China in the wake of this coronavirus pandemic.

Info from the China Automobile Dealers Association shows that luxury car traders in the nation sold 277,000 automobiles in April, an 11.1 percent increase over the same month last year. As a result of this growth, luxury automobiles accounted for 18.7 percent of this market in April, a 3.6 percent increase over April 2019 plus a 0.4 percent increase within the industry share in March.

Read Also: China’s Auto Industry Doing All It Can To Coax Back Shoppers

Since Shine notes, while April found a resurgence in luxury cars, sales of these automobiles are still down 16.4 per cent year on year, to 795,000 units from the initial four months of 2020.

In March, lots of luxury car makers around the nation introduced policies to revive earnings, such as bonuses and resources. Some provided vehicles beforehand to help their operations are restarted by traders. For instance, Audi provided A6L and Q5L versions and reduced the earnings burden and evaluation of traders. In addition, it provided subsidies of around 3,000 yuan ($420) to front-line revenue employees. BMW also introduced policies to support traders from March to May.

Li Yanwei, an analyst in the China Automobile Dealers Association, says many service policies from car manufacturers will proceed towards the end of May.

All significant German luxury brands enjoyed sales gains in April. At Mercedes-Benz, earnings jumped by 4.7 percent to 62,200 units while in BMW, sales reach 67,000, an increase of 9.4 percent. Audi enjoyed a sales growth of 29.9 percent to 61,500 units while Porsche earnings jumped by 23.9 percent to 8,767 in April. Tesla sales soared by 121 percent to 4,255 units last month.

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