Car sales in China Jump Higher Thanks to Stronger Domestic Demand for Commercial Vehicles

Car sales in China in June rose 11.6% year-on-year to 2.3 million units, according to China Automobile Manufacturers Association (CAAM).
The indicator is growing for the third month in a row, and the world’s largest car market is moving away from the lows reached during coronavirus lockdown.
The growth in sales was largely due to strong demand for trucks and other commercial vehicles, associated with increased spending on infrastructure as part of the authorities’ efforts to revive the PRC economy.
In May, car sales grew by 14.5%, in April - by 4.4%.
Sales of trucks and other commercial vehicles, which account for about a quarter of the total market, grew in June by 63%, passenger cars - by 1.8%.
CAAM reported in June that auto sales in China in 2020 are likely to decline by 10-20% compared to more than 25 million units sold in 2019.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% and 76% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Futures and Options: Trading futures and options on margin carries a high degree of risk and may result in losses exceeding your initial investment. These products are not suitable for all investors. Ensure you fully understand the risks and take appropriate care to manage your risk.