Passenger car sales on the rise again

The car market is regaining momentum thanks to price cuts and new EV tax breaks. Passenger car sales in China rose 2.2 percent year-on-year to 1.94 million units in August, according to the industry association China Passenger Car Association (CPCA). This is the first time sales have grown since May. Compared to the previous month, sales even increased by 8.5 percent.