Total car sales in China fell to 1.4 million units in April, a 21.5% decline compared with the same month last year, according to data cited by Bloomberg and reported by OilPrice.com. This was the lowest monthly sales total since 2022, when the country was still under widespread Covid lockdowns. Internal combustion engine car sales registered a decline of over 30%, while sales of electric vehicles and hybrids fell by a more modest 6.8%, according to the report. [1] Electric vehicle sales suffered partly because China rolled back subsidies and reintroduced a tax on what it calls new energy vehicles,…
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