China could witness a 10-20pc dip in auto sales in 2020 with the second wave of COVID-19, according to China Association of Automobile Manufacturers (CAAM). 

 

China’s auto sales rose for the fourth consecutive month by 16.4pc in July to 2.11mn vehicles, while year to date sales fell by 12.7pc to 12.37mn vehicles.

 

In July, sales of trucks, vans and commercial vehicles rose by 59.4pc, while passenger vehicle segment witnessed an increase of 8.5pc.

Automakers who reported sales growth in July include Great Wall Motor, Geely Automobile and Toyota Motor Corp.

 

Sales of New Energy Vehicle (NEV) segment declined by 19.3pc to 98,000 units and the association expects a drop of 11pc in 2020 to 1.1mn vehicles. 

 

 

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