Sales of new cars in China decreased in JuneJuly 10, 2020
One of the main reasons was a sharp increase in consumer activity in May 2020, followed by a recession.
Experts from the Autostat Info analytics and statistics agency shared information on new car sales in China in June 2020. Last month, 1.68 million new cars were sold on the Celestial market – this result was 6.5% less than last year for the same period. One of the reasons for the decline, experts call an increase in sales in May, when, due to subsidies from the state and after the break associated with the coronavirus, many decided to buy a car.
The figures for June show a decrease compared to June 2019, however, compared with May 2020, sales are growing by 3%. And this figure is much more important for the automotive industry in China at the moment. It is noteworthy that sales of new cars in China have changed unevenly – premium cars showed the biggest leap, sales of which grew immediately by 27%.
The Chinese automobile industry was one of the first to recover from the coronavirus epidemic. Peak decline in sales came in February, but by April, demand began to recover gradually.
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