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03 JULY 2020 AL CIRCLE

COVID-19 Recovery: New-vehicle sales in China rise for the third consecutive month in June, CAAM estimates

EDITED BY : DEBANJALI SENGUPTA 1MINS READ

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.

New-vehicle sales in China rise for the third consecutive month in June 2020, CAAM estimates

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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.

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In May, China's new-vehicle sales surged by 15 per cent from the preceding year.


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EDITED BY : DEBANJALI SENGUPTA 1MINS READ

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