China car sales rise for first time in almost a year, sign that world auto market is rebounding
Car sales in China rose for the first time in almost a year last month, evidence that the world’s largest auto market is rebounding from the coronavirus crisis and the trade war with the U.S.
The government added stimulus measures such as tax rebates to attract consumers back to showrooms, while automakers that shuttered operations amid the coronavirus outbreak now offer generous discounts. The pandemic exacerbated a sales slump that’s in its third year, with an economic slowdown, trade tensions and stricter emission standards weighing on demand.
A decline in sales of new-energy vehicles, including electric cars, also slowed, PCA said. NEV sales fell 26 per cent, following a drop of 30 per cent in April and 49 per cent in March.
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