29 Aug 2022

New vehicle sales in China surged by almost 30% in July with sales of more than 2.4 million vehicles, reports Leatherbiz.

 

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The China Association of Automobile Manufacturers (CAAM) said customer demand was boosted by government incentives to support the industry, and a recovery in production, amid easing of covid restrictions.

 

Sales of new-energy vehicles reached 564,000 units in July, giving a total of almost 3 million for the year so far and there are projections of a total of 6 million units for the full year, which would represent more than double the figure for 2021.

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