Car sales in China Jump Higher Thanks to Stronger Domestic Demand for Commercial Vehicles

<p>Car sales in China in June rose 11.6% year-on-year to 2.3 million units, according to China Automobile Manufacturers Association (CAAM).</p>
<p>The indicator is growing for the third month in a row, and the world’s largest car market is moving away from the lows reached during coronavirus lockdown.</p>
<p>The growth in sales was largely due to strong demand for trucks and other commercial vehicles, associated with increased spending on infrastructure as part of the authorities’ efforts to revive the PRC economy.</p>
<p>In May, car sales grew by 14.5%, in April – by 4.4%.</p>
<p>Sales of trucks and other commercial vehicles, which account for about a quarter of the total market, grew in June by 63%, passenger cars – by 1.8%.</p>
<p>CAAM reported in June that auto sales in China in 2020 are likely to decline by 10-20% compared to more than 25 million units sold in 2019.</p>
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