Further illustrating China’s economic recovery efforts, July auto sales in the country jumped 16.4% year over year, according to the China Association of Automobile Manufacturers (CAAM).
China’s auto sales have posted four straight months of year-over-year gains. The streak followed weak sales in March, when they fell 43.3% year over year.
However, July sales did slow down compared with the previous month. July sales were down 8.2% month over month.
We’re offering timely emails with exclusive analyst commentary and some best practice advice – and you choose how often you receive it. Sign up today.
SUV sales power passenger-car sales
Sales of passenger cars jumped 8.5% year over year in July, CAAM reported.
However, passenger-car sales were down 5.6% compared with the previous month.
Appetite for SUVs was high, however, as sales increased 14.o% year over year. Still, SUV sales were down 6.1% from the previous month.
Commercial vehicle sales surge
As for commercial vehicles, sales in July jumped 59.4% year over year. Like other automotive categories, however, sales were down 16.5% from the previous month.
Bus sales fell 15.1% year over year and 16.6% from the previous month.
Truck sales surged 71.1% year over year but dropped 16.0% from the previous month.
Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more.