China’s car sales still showing signs of growth as world’s largest market recovers from coronavirus impact
- China’s car sales in June dropped 6.5 per cent, although sales in June 2019 were boosted by discounts to push models that risked becoming redundant by new emission standards
- Sales in June increased 2.6 per cent from May, offering some encouragement after demand had slumped amid the coronavirus outbreak
China’s car sales continued to recover in June, the China Passenger Car Association said on Wednesday.
Retail sales of sedans, SUVs, minivans and multipurpose vehicles within the world’s largest car market declined 6.5 per cent to 1.68 million units in June from a year earlier, having risen 1.9 per cent in May, which was the first increase in a year.
But the 2.6 per cent increase from May, which was in line with expectations, offers some encouragement after demand had slumped amid the coronavirus outbreak.
The year on year figures for June are also complicated after sales jumped in June 2019 as dealers offered discounts to push models that risked becoming redundant by new emission standards taking effect the following month.
Luxury car sales outpaced the overall market, China Passenger Car Association (CPCA) secretary general Cui Dongshu said.
Sales of new energy vehicles (NEVs), which include battery electric vehicles and plug-in hybrid and hydrogen fuel cell vehicles, hit 85,600.
The battery electric vehicle sector sold 67,000 units in June, with American manufacturer Tesla accounting for 23 per cent of the market, the CPCA said.
Cui said the association expects NEV sales in the second half of 2020 to be significantly higher than in the same period last year.
