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CAAM: China's auto sales increase by 29.7% YOY in Jul

Data released by China Association of Automobile Manufacturers (CAAM) on August 11 showed that in July 2022, the production and sales volume of the industry reached 2.455 million units and 2.42 million units respectively, down by 1.8% and 3.3% month on month while up by 31.5% and 29.7% year-on-year respectively. And the data from January to July were 14.571 million units and 14.477 million units correspondingly, with an increase of 0.8% YOY and a decrease of 2% YOY respectively.

In July, the production and sales of NEVs recorded 617,000 and 593,000 units respectively, both increased by 1.2 times year-on-year. And that of Jan-Jul posted 3.279 million and 3.194 million units respectively, both increased by 1.2 times year-on-year.