China's premium and luxury passenger car retail sales jumped 28% from a year earlier, the best performing sector as the industry, the China Passenger Car Association said, as the country gradually recovers from the coronavirus.
FILE PHOTO: Newly manufactured cars are seen at a port in Dalian, Liaoning province, China April 10, 2020. China Daily via REUTERS
SHANGHAI - China’s premium and luxury passenger car retail sales jumped 28% from a year earlier, the best performing sector as the industry, the China Passenger Car Association said, as the country gradually recovers from the coronavirus. Overall passenger car sales in May rose 1.9% from a year earlier to 1.61 million, the China Passenger Car Association said on Monday.
The association said during an online briefing that the retail sales growth beat expections and signalled a recovery in the passenger car market. However, it forecasts sales in June will fall, citing last year’s strong figure.An executive at Jaguar Land Rover , owned by India’s Tata Motors , said the firm expects sales of China’s luxury car segment this year to be level with last year or see slight growth.
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