BEIJING/SHANGHAI : China's passenger vehicle sales fell in June, data from the China Passenger Car Association (CPCA) showed on Monday, as a stumbling economic recovery made consumers more cautious about big-ticket spending.Car sales in June totalled 1.91 million units, down 2.9 per cent from last year, t
BEIJING/SHANGHAI : China's passenger vehicle sales fell in June, data from the China Passenger Car Association showed on Monday, as a stumbling economic recovery made consumers more cautious about big-ticket spending.
Meanwhile, sales of new energy vehicles , including pure battery electric cars and plug-in hybrids, jumped more than 25 per cent in June and accounted for roughly 35 per cent of the total car sales. NEV sales surged more than 37 per cent to 3.09 million units in the first six months. Chinese automakers counted more on overseas markets to sustain their sales growth, with car exports soaring 56 per cent in June.
With domestic consumer demand weak, the world's largest auto market has been grappling with a price war triggered by Tesla in January that has since spread to more than 40 brands offering discounts on their vehicles.
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