China’s vehicle sales slid in July for a third consecutive month, hit hard by flooding in some areas of the country, COVID-19 outbreaks in other areas and the global shortage of semiconductors, reported Reuters.
The world’s biggest auto market saw sales drop 11.9% from the same month a year earlier to 1.86 million vehicles, according to data from the China Association of Automobile Manufacturers (CAAM).
One bright spot in July was continued strong sales of new energy vehicles, which more than doubled to 271,000. These include battery-powered electric vehicles, plug-in petrol-electric hybrids and hydrogen fuel-cell vehicles.
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