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Principale » China June vehicle sales up 4.6 pct y/y - Passenger Car Association

China June vehicle sales up 4.6 pct y/y - Passenger Car Association

11 Juillet 2017

The tax rate rose to 7.5% from 5% past year.

Peter Fleet, Ford Motor Co's Asia-Pacific chief, told Reuters last week average vehicle transaction prices in China had fallen about 4 percent in the first half of this year from a year earlier.

In January, CAAM predicted sales would rise 5% this year, slowing from 13.7% in 2016, but the rollback in demand has been steeper than expected.

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The China Association of Automobile Manufacturers, whose statistics are generally viewed as the benchmark for the industry, is due to report wholesale data for June on Tuesday.

In October 2015, China slashed the sales tax on cars with engines of 1.6 liters or below from 10 percent to 5 percent, helping increase total auto sales to a record high of 28.03 million a year ago. However, the popularity of sport-utility vehicles, whose sales rose 16.8% in the period, helped to ensure the passenger segment delivered growth over all.

Total vehicle sales in China, which include commerical purchases, rose 3.8% to 13.35M vehicles in the first half of the year.