Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, July 8 (Xinhua) — China's passenger car sector posted double-digit growth in retail sales in June as government policies to boost consumption continued to have an effect, the China Passenger Car Association (CPCA) said Tuesday.
China's passenger car retail sales rose 18.1 percent year-on-year last month to more than 2.08 million units, the association said.
The association attributed the significant increase to the impact of a nationwide trade-in program for consumer goods.
Last month, the country's government reaffirmed its support for the program, guaranteeing continued funding to maintain government subsidy payments through 2025. The program, a key part of the country's broader strategy to boost domestic consumption, encourages consumers to replace older products such as appliances and vehicles with newer, more efficient models.
In June, China produced 1.2 million new energy passenger vehicles, with retail sales exceeding 1.11 million units, up 28.3 percent and 29.7 percent year-on-year, respectively.
According to the association, in the first six months of this year, retail sales of passenger cars exceeded 10.9 million units, an increase of 10.8 percent year-on-year. –0–
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