China Vehicles Sales Rise Again
After summer downturn, tax breaks and incentives turn the tide.
Year-over-year sales hadn’t seen a bump in China since May, and this was the briskest sales month so far this year.
IMAGE: Pexels/Markus Winkler
After months of falling, retail auto sales rebounded in China in August, spurred by tax breaks and incentives in the government’s efforts to increase alternative-fuel vehicle sales.
The China Passenger Car Association said year-over-year passenger car sales increased more than 2% to 1.9 million units and 8.5% month-over-month. Exports surged more than 30%.
Year-over-year sales hadn’t seen a bump in China since May, and this was the briskest sales month so far this year.
Deliveries of what the CPCA calls new-energy vehicles rose about 35%. Tesla, which itself has been cutting its prices, sold more than 84,000 wholesale of the Model Y that it made in Shanghai.
Originally posted on Auto Dealer Today
More Industry
Pennsylvania Dealership Under New Retailers
The sale of the Chrysler Dodge Jeep Ram store puts a family auto group on a leaner path as first-time dealers take the helm.
Read More →
Battery Storage Takes Priority Over EVs
U.S. automakers are prioritizing battery energy stationary storage over electric-vehicle production as the consumer demand for EVs lags the rest of the world.
Read More →
Auto Dealers Feel Better But Not Great
A second-quarter Cox Automotive poll of franchised retailers and independents found better views of the current market after a good spring but anticipation of third-quarter storminess.
Read More →
New-Vehicle Sales Picture Relative
A May forecast is complicated by last spring’s trade tariff effects on auto retail. Despite continued hard realities, many consumers took advantage of ways to bite the bullet.
Read More →
Auto Group Acquires Third Nissan Rooftop
Iowa-based Coleman Automotive Group recently acquired its seventh dealership, McGrath Nissan, which it renamed Nissan of Elgin.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Building an Extraordinary F&I Agency
Work to determine your specialized talent, because that fact will determine everything about your agency’s future.
Read More →
Recipe for Compliance
The secret to both amazing barbecue and compliance is the same: understanding the basics and committing to a process.
Read More →
EVs Getting More Attractive
A growing percentage of U.S. consumers are open to switching and fewer are adverse to the idea, according to a recently completed survey. That’s despite the end of a tax break.
Read More →
EV Sales Drop in April Following Surge
North American electric-vehicle sales were down 28% year-over-year, a sharp contrast from global EV sales growth of 6%.
Read More →