China’s Car Sales Growth Slows in July After Strong First Half, CPCA Says

China’s Car Sales Growth Slows in July After Strong First Half, CPCA Says

China’s car sales momentum is expected to ease in July following a robust first half, the China Passenger Car Association (CPCA) said on Friday. Retail sales of passenger vehicles are projected to reach approximately 1.85 million units this month, a 7.6% increase from a year earlier but down 11.2% from June. New energy vehicle (NEV) sales are expected to total around 1.01 million units, resulting in a record penetration rate of 54.6%. The CPCA s…