Car sales in China are Rising For the Fourth Consecutive Month

Car sales in China jumped 16.4% in July compared to last year, the fourth consecutive month of gains as the world’s largest auto market retreated from its lowest levels during the country’s lockdown due to the Coronavirus.

Data from the wholesale sales released by the Chinese Association of Automobile Manufacturers (CAAM) on Tuesday showed that sales rose to 2.11 million cars in July, but were still down by 12.7% for the year so far at 12.37 million cars, according to Reuters.

The association expects auto sales to fall about 10% this year or a second wave of virus infections that could deepen the slide to around 20%.