For March, the Global Light Vehicle (LV) selling rate improved to over 87 million units/year. However, overall sales fell in year-on-year (YoY) terms by 3.5% to 8.2 million units, driven largely by sharp declines in the US and China.
The refund system set up to allow companies to recover illegally collected tariffs from the U.S. government went live on Monday as thousands of companies rushed to file claims.
Asian stock markets were mixed on Tuesday, with South Korean shares touching record highs on chipmaker gains, while broader sentiment remained cautious as investors tracked developments around a fragile U.S.-Iran ceasefire.
The jobless rate in China for those under 30 years of age in urban areas, excluding college students, rose in March, data from the National Bureau of Statistics showed.
China might have to burn more fossil fuels this year as meteorologists forecast a moderate-or-stronger El Nino weather event in the summer and autumn, which could disrupt operations at hydropower stations across the region at a time when fuel supplies from the Middle East are disrupted.
Sales of electric cars soared 51% in continental Europe last month, amid a rise in petrol and diesel costs driven by the Iran war.