June China car sales rebound amid price cuts

June China car sales rebound amid price cuts

In June, China's car sales rebounded because the country's top industry association reported, shaking off weakness observed for the last two months because car producers grappled with a rollback in tax incentives, which drove strong surge the previous year.

In June, total vehicle sales reached up to 2.17 million, edging up 4.5% from last year, while sales for the first half of 2017, added 3.8%, hitting 13.4 million car, as the China Association of Automobile Manufacturers informed on Tuesday.

The soar in sales that industry insiders told was backed by hefty discounting, actually lends a sheen to the world's number one car market, though surge is struggling to keep pace with last year, when the market soared at its fastest pace for three years.

Overall car demand in China would probably surge 1-4% in 2017, mostly because consumers made purchases the previous year to derive benefits from lower tax rates.


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