HK Mar Total Retail Sales Value Up 12.8% YoY, Beating Forecast; Auto Sales Surge 80%+ on Rush to Buy EVs
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The value of total retail sales in Hong Kong for March 2026 rose by 12.8% year-on-year to $33.9 billion, surpassing the forecast of 9.4%. Motor vehicle sales surged by over 80% due to a rush to buy electric vehicles before a tax concession expired. Overall, retail sales for Q1 2026 increased by 12.1% compared to the previous year. Despite declines in some categories, the outlook for retail sales remains positive, supported by local demand recovery and inbound tourism growth.
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