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Passenger Car Sales Down M/M For Start Of July

CHINA PRESS
MNI (BEIJING)

Retail buyers purchased 1,122,000 passenger cars over July 1-23, a 2% increase y/y but 7% fall m/m, according to data released from the Car Passenger Association. Buyers of new energy vehicles (NEVs) purchased 442,000 units, up 23% y/y but declined 2% m/m. According to Yicai, car buyers typically decrease purchases in July, with consumers restricted from visiting stores due to hot weather. The news agency noted authorities maintained strong local stimulus policies and consumers are beginning to buy after ending their wait-and-see approach. (Source: Yicai)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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