Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

China’s passenger car sales in June decreased by 6.5pc to 1.68mn units from the prior year, as per China Passenger Car Association (CPCA) data, reported in local media. The dip in sales is mainly due to higher base in the June 2019, and after discounting for the epidemic situation, figures indicate an uptick in demand. Chinese authorities have stimulated domestic auto sales through finance incentive provided to new buyers. 


Production of passenger cars in June improved by 13.1pc from the prior yea and rose by 7.5pc from May to 1.74mn units, according to China’s Federation of Passenger Transport Association.


Wholesale sales of electric passenger vehicles including hybrid dipped by 34.9pc from the prior year to 85,600 units. Pure electric battery-driven car sales grew with the contribution of Tesla, which accounted for 23pc sales in June with the sales of 14,954 units of Tesla Model 3. Luxury car sales improved by 27pc from a year ago.


Major carmaker Great Wall Motor’s June sales rose by 29.6pc to 82,036 units from the prior year. This is the company four consecutive month of improves sales reviving the hopes for a recovery in auto sales in China.

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