China Association of Automobile Manufacturers: The situation of the automobile industry improved significantly in the second quarter and achieved relatively high growth in the first half of the year

On July 11, the China Association of Automobile Manufacturers stated that China's economic maintained a continuous recovery trend amid positive impact of more factor, and will still appear strong in the long run. Under this circumstance, the auto industry came out of the market transition period in the first quarter, and improved significantly in the second quarter. Overall, the industry maintained steady development in the first half of the year, and the domestic market continued to recover, seeing pick-up of major economic indicators. After sales promotions and volatile market prices in Q1 in China, the cumulative growth in auto industry in the first half of the year was relatively high, boosted by the central and local policies to promote consumption, announcement of the implementation of the National VI of light vehicles, the multi-regional auto marketing activities, launch of a large number of new corporate models and demand recovery.