Average daily passenger vehicle retail sales in China amounted to 48,000 units in the second week of July (July 11-17), up 16 percent year on year, while down 15 percent month on month, reflecting a previous gradual improvement in demand which then slowed down in July, according to the China Passenger Car Association (CPCA).
In the July 1-10 period, passenger vehicle retail sales reached 40,000 mt, up 16 percent year on year, while down six percent month on month.
Since June was the last month of the first half of the year, passenger vehicle dealers made efforts to improve their performances. Meanwhile, July is part of the traditional offseason for vehicle sales, though market players think sales may improve by the end of July supported by the government’s stimulus policy.