China car sales up 12.3% in June

Reading Time: < 1 minute

News like this to your inbox or phone?

Weekly summary to your inbox

Never miss and important news

Get Instant notification once the news is published.

- Advertisement -

China’s passenger vehicle sales maintained stable double-digit growth in the first half, raising industry hopes of improvement in the remainder of the year. First-half sales of cars, sport utility vehicles, multi-purpose vehicles and minivans jumped 16.7 percent year-on-year to 8,178,417 units, the China Passenger Car Association said.

In June, which is usually a slow time for the industry because of a lower number of working days, the Dragon Boat festival and national entrance examinations for universities, 1,289,665 passenger vehicles were delivered to local consumers, up 12.3 percent year-on-year.

- Advertisement -

Though sales dipped 3.4 percent from May, the market performance “was actually better and indicated an upward trend for the coming month,” said Rao Da, secretary-general of the association.

“More important, looking back to the first half, except February, monthly sales all showed strong double-digit growth, demonstrating that China’s automobile market is on track to healthy and sustainable development,” said Rao.

- Advertisement -

He also expressed optimism about sales in July and the second half overall.

“China’s new leadership is leveraging a stable economy policy, without stimulus packages this year. This might have a slightly negative impact on the vehicle market.

“However, from a long-term perspective, it supports the sustainability of the sector. Month-on-month sales growth in July would probably be unusually high “as there are more working days and the market is rebounding. Continuously increasing sales will ease the inventory build-up at dealers, which followed a sudden slowdown last year.”

Via: ChinaDaily.

- Advertisement -

- Advertisement -

New Chinese EVs marketplace with the lowest prices & worldwide shipping.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -