In July, Chinese car sales increased by 26.3% from the same month last year, seeing the highest monthly growth in 30 months and sales of 1.14 million units. This surge in sales is largely attributed to a government policy that halves purchase tax on cars with engines with a capacity of up to 1.6 litres. These cars alone saw an increase of 38.6% of market share from last year and thus represented 71% of July’s total sales output.
In July, Chinese car sales increased by 26.3% from the same month last year, seeing the highest monthly growth in 30 months and sales of 1.6 million units. This surge in sales is largely attributed to a government policy that halves purchase tax on cars with engines with a capacity of up to 1.6 litres. These cars alone saw an increase of 38.6% of market share from last year and thus represented 71% of July’s total sales output.