Chinese Auto Sales Slump in July

Exports Decline, Domestic Market Falters

China's auto sales declined in July, with a 5% year-over-year drop, the country's auto industry association reported Friday.

According to data from the China Association of Automobile Manufacturers, vehicle exports also fell significantly, by 26%.

Total vehicle sales in China reached 1.79 million units in July, a decrease of 29.7% compared to the same month last year.

However, the country's car exports surged by 63.7% in 2023, driven by incentives and increased consumer demand.