Hyperdrive
China Car Recovery Gathers Pace With July Sales Accelerating
- Industry hopes for end to two-year slump as virus eases
- New-energy vehicle sales advance as Tesla gains users
This article is for subscribers only.
A recovery in China’s car sales accelerated last month, signaling the world’s biggest auto market is emerging from a two-year slump as the economy improves and pandemic restrictions ease.
Retail sales of sedans, SUVs, minivans and multipurpose vehicles increased 7.9% in July from a year earlier to 1.63 million units, the China Passenger Car Association said Tuesday. The sales trend had been improving on a monthly basis since March before a 6.5% drop in June. Tesla Inc. and BYD Co. led the way in electric-car sales last month.