China’s car sales rebound in June

BEIJING (Xinhua) – China’s car sales rebounded in June as carmakers and dealers ratcheted up promotion before new emission standards took effect in some regions in July.

About 2.06 million cars were sold last month, up 7.5 per cent compared with May and down 9.6 per cent year on year, data from the China Association of Automobile Manufacturers (CAAM) showed yesterday.

Car sales remained sluggish in the first half of this year after a weak performance in 2018, registering a 12.4 per cent drop year on year.

The H1 sales year-on-year drop narrowed compared with the first five months.

Car output also edged up in June compared with May but fell year on year.

New energy vehicles (NEVs) continued to report robust sales in June. NEVs sales surged 80 per cent year on year last month, while H1 sales rose 49.6 per cent.

The CAAM attributed the June automobile market rebound to a string of factors including enhanced promotion by car-makers and dealers to sell more cars before new emission standards took effect starting from July 1, the government’s latest move to build a green economy.