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Cornerstone Blog Strong recovery signs in China’s passenger vehicle market

Strong recovery signs in China’s passenger vehicle market

July 17, 2020 by Cornerstone International Group Leave a Comment

Retail sales of passenger vehicles in China hit 1.65 million units in June,

up 2.9 percent from May and recorded four months of consecutive growth,

according to an analysis by the China Passenger Car Association (CPCA) released Wednesday.

Although sales of passenger vehicles still dropped 6.2 percent from the previous year.

Month-on-month posted a strong signal of a rebound in the auto market,

mainly stimulated by government policies in promoting consumption and work resumption after bringing the epidemic under control.

From January to June, the cumulative sales of passenger vehicles reached 7.7 million units, falling 23 percent from a year earlier.

Read the full article here…

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Filed Under: Cornerstone Blog Tagged With: automotive, business

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