Auto sales in China experienced a slight setback in July, with a 5% decline compared to the previous year, according to the China Passenger Car Association. However, there was a notable increase of about 20% in exports, driven by the expansion of electric vehicle manufacturers into global markets.
Passenger car sales in China totaled approximately 2 million units, with 1.6 million sold domestically, marking a 10% decrease from the previous year. The total exports of passenger vehicles surged by over 20% to 399,000 units. Notably, more than half of all vehicles sold were classified as 'new energy vehicles,' including electric and plug-in hybrid models.
