China’s July Auto Sales Extend Recovery, Jump 30% As COVID Curbs Ease.

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China’s auto sales surged 29.7% in July from a year earlier to 2.42 million units, extending a recovery that began in June; with the help of eased COVID curbs and government incentives.

Sales for the first seven months, though, were still 2% lower than the corresponding period in 2021; data from the China Association of Automobile Manufacturers (CAAM) showed.

Sales of new energy vehicles, which include pure electric vehicles, plug-in hybrids and hydrogen fuel-cell vehicles; increased 120% in July from the previous year.

The world’s biggest auto market will see “stable increases” over the next few months, said CAAM’s senior official Xu Haidong, after a chip shortage dented sales last year.

July sales were 3.3% lower than June as heat waves nationwide slowed the pace of factory production; and reduced customer visits to showrooms.

Reuters.

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