Demand for cars expected to rise over holiday

The demand for cars is expected to rise during the Spring Festival with consumer confidence improving and automakers holding promotions.

High-end new-energy vehicle models and luxury cars are becoming more popular, according to industry insiders, and more people will buy new cars to replace old models during the holiday.

Zhang Xiaofeng, an independent market analyst, said consumers are taking into account the safety and convenience of travel during the COVID-19 pandemic prevention and control period. Second, the stable economic environment meant people had money to spend. Third, the holiday gave consumers time to choose models and visit stores.

This year, there are also the latest trends for car sales and promotions including livestreaming and digitalization.

Bitauto, a provider of Internet content and marketing services as well as transaction services for China's automotive industry, said it will be collaborating with manufacturers to sell cars online. 

Bitauto is hosting a Chinese New Year project combining online and offline purchases, with incentives in the form of red envelopes to stimulate demand.

Geely, the country’s largest private carmaker, said its stores will open from February 11 to 17. The automaker will also sell cars via livestreams and providing online and offline services for buyers. It is also offering promotions and gifts for potential buyers visiting their stores.