Retail sales of passenger cars in China fell 21.1% year-on-year in July to 1.47 million units, while exports rose 88.2%.
AI will summarize what happened, why it matters and what it means for business.
In China, retail sales of passenger cars in July fell 21.1% year-on-year to 1.47 million units, according to the China Passenger Car Association (CPCA).
The decline was recorded for the tenth consecutive month.
At the same time, exports rose 88.2% to 923,000 vehicles. In particular, overseas shipments of new energy vehicles (NEV) jumped 2.5 times (up 148%) to 540,000.
Retail sales of passenger cars in China fell 21.1% year on year to 1.47 million units
In July, retail sales of passenger cars in China fell 21.1% year on year to 1.47 million units, while exports rose 88.2%.
The downward trend in domestic sales may continue, but export growth could offset losses for manufacturers.