China's Passenger Car Market Enters a Relatively Stable Development Period
Jul 12, 2024
According to the latest retail sales data from the Passenger Car Market Information Joint Conference of the China Automobile Dealers Association, the retail sales of the domestic narrow passenger car market in June reached 1.765 million vehicles, a year-on-year decrease of 6.8%, and a month-on-month increase of 3.1%; the cumulative sales from January to June were 9.839 million vehicles, a year-on-year increase of 3.2%.
The national policy of "trade-in for new" is gradually taking effect. The introduction and follow-up of corresponding policies and measures in various places, the release of new numbers in Beijing, the cooling of the new car price war in the market, and the "618" promotion have all stimulated the enthusiasm of consumers who had been waiting and observing, leading the national passenger car market into a relatively stable development period in June.
The data in this article is based on the preliminary monthly report of the Passenger Car Market Information Joint Conference of the China Automobile Dealers Association.
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