Sales Off in China Market
July deliveries make two months of declines, but sales in first seven months up
Meanwhile, Chinese carmakers increased exports in July by 63% year-over-year.
IMAGE: Pexels/Andrew Seto
Passenger auto sales in China fell in July for the second month in a row of declines, Reuters reported.
Sales fell 2.6% year-over-year in the world’s biggest vehicle market to 1.79 million, according to numbers released by the China Passenger Car Association, after falling 2.9% in June.
Despite the new trend, China’s auto sales are up 1.7% in the first seven months of 2023 to 11.4 million, Reuters said.
Meanwhile, Chinese carmakers increased exports in July by 63% year-over-year and by 56% in June, Reuters said, compensating for the overall slide.
It reported that Chinese brands should keep offering incentives in some segments, perhaps increasing them, citing a CPCA executive.
Originally posted on Auto Dealer Today
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