Major automakers’ passenger vehicle retail sales in China are expected to total 1.53 million units in July this year, down 4.3 percent year on year, according to the China Passenger Car Association (CPCA).
The shortage of semiconductor chips will likely ease in the third quarter this year, which will contribute to the stable movement of the vehicle market.
China’s Ministry of Commerce has forecast that vehicle sales in China in 2021 will likely record positive growth, with China expected to promote car consumption in many different ways.