Car sales in China have slowed, but exports are climbing. It's introducing incentives at home to boost local sales, and fighting tariffs abroad.
BANGKOK ? Auto sales in China faltered in July, falling 5% from a year earlier, the China Association of Automobile Manufacturers said Friday, although exports jumped about 20% as makers of electric vehicles expanded into global markets. Sales of passenger cars totaled about 2 million units, with about 1.6 million sold inside China, a year-on-year decline of 10%. Total exports of passenger vehicles jumped more than 20% to 399,000 units.
To try to boost demand and counter slowing economic growth while also promoting cleaner transport, China has expanded incentives to encourage drivers to trade in their older, gas and diesel-fueled cars and buy EVs. While overall car sales have remained lackluster, sales of EVs rose nearly 30% in July from the year before to about 991,000. Of that total, 887,000 were sold in China and 103,000 were exported.
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