China’s car sales showed signs of recovery in June, increasing for the first time since May 2018 as dealers offered discounts to clear inventory before the implementation of new emissions rules, reported the South China Morning Post.
Retail sales of sedans, sport utility vehicles, minivans and multipurpose vehicles rose 4.9% to 1.8 million units in June from a year earlier in the world’s biggest market, according to preliminary numbers from the China Passenger Car Association.
The report offers some hope for car makers and dealers struggling with the first slump in demand in a generation, caused by slowing economic growth, rising trade tensions and stricter emissions rules. But a sustained recovery is far from certain, with researcher LMC Automotive in June estimating a decline of about 5% for the full year.
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