China Association of Automobile Manufacturers: Automobile sales in June were up 4.8% year-on-year

On July 11, data from the China Association of Automobile Manufacturers showed that in June, automobile productions and sales were 2.561 million vehicles and 2.622 million vehicles respectively, a month-on-month increase of 9.8% and 10.1%, respectively, and a year-on-year increase of 2.5% and 4.8%. From January to June, productions and sales of automobiles were 13.248 million vehicles and 13.239 million vehicles respectively, a year-on-year increase of 9.3% and 9.8% respectively. Supported by the halving of the sales tax on fuel vehicles in June last year, productions and sales showed high growth. The cumulative production and sales growth rate from January to June dropped by 1.8 percentage points and 1.3 percentage points from January to May. In the first quarter, the overall auto market was in a state of negative growth, but continued to improve under the influence of a low base in the same period and multiple positive factors since April, seeing growing production and sales, and achieved relatively high growth in the first half of the year.