China – Jul Auto Sales
13/08/2019 10:41 am MYT
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Total vehicle sales in Jul fell 12.1%, month-on-month, and 4.3%, year-on-year, to 1.81 mln units – see table 1. Passenger car sales fell 11.6%, month-on-month, and 3.9%, year-on-year. Commercial vehicle sales also fell 14.6%, month-on-month, and 6.4%, year-on-year – see figure 1. Although auto sales continued to fall, the rate of decline has moderated. A new method to calculate the car purchase tax took effect in Jul, which could provide tax savings for car buyers. At the same time, many places have implemented the China VI Emission Standard in Jul. As a result, auto sales should improve in the second half of the year.

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