COVID-19 Recovery: New-vehicle sales in China rise for the third consecutive month in June, CAAM estimates
According to estimates released by the China Association of Automobile Manufacturers on Thursday, July 2, Chinese new-vehicle sales continued to grow for the third consecutive month in June 2020, as the industry recovery from COVID-19 crisis gained speed in the past three months.
Based on the data provided by key automakers, CAAM estimates that the industry-wide sales in June have escalated by 11 per cent to 2.28 million tonnes.
With this, the total industry-wide sales are estimated to stand at 10.24 million in the first six months of 2020, marking a drop of 17 per cent from a year earlier, added the trade group.
After a year-on-year shrink of 42 per cent in the first quarter of 2020, China’s new-vehicle market started rebounding in April with sales rising 4.4 per cent year over year.
In May, China's new-vehicle sales surged by 15 per cent from the preceding year.
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