In June this year, passenger vehicle retail sales in China reached 1.926 million units, up 22 percent year on year, while rising by 42 percent month on month, according to the China Passenger Car Association (CPCA).
The CPCA stated that, though the Dragon Boat Festival on June 3-5 exerted a negative impact on passenger vehicle retail sales in the first week of June, later, China’s preferential purchase tax policies for passenger vehicles resulted in an improved market situation. At the same time, the easing of Covid-19 pandemic measures also bolstered passenger vehicle sales.
Moreover, the CPCA estimates a sharp rise of 130 percent year on year in new energy vehicle wholesale sales in June to 546,000 units.