China auto sales speed up 14.6% in June
CAR sales growth in China, the top global auto market, accelerated for the second consecutive month, an industry group reported yesterday, despite continued woes in the world’s secondlargest economy.
A total of 2.07 million vehicles were sold in China last month, up 14.6 percent from a year ago, the China Association of Automobile Manufacturers (CAAM) said in a statement.
The numbers were an increase on the 9.8pc gain posted in May, which was itself an improvement on April’s 6.3pc.
China is crucial to foreign automakers, who have set up a series of joint ventures as they seek to make the country’s growing middle class more mobile.
Auto sales reached 24.6 million last year, and in October the government sought to boost the market by slashing the purchase tax on passenger cars with small engines.
Sales of passenger cars reached 1.78 million units in June, up 17.7pc yearon-year, CAAM data showed.
The pickup came despite protracted weakness in the world’s secondlargest economy, where growth slowed to 6.7pc in the January-to-March period, the worst quarterly expansion in seven years. –