China’s auto industry production increased by 28.9% in July on a year-on-year basis up to 1.96 million vehicles

Almaty. August 15. Silkroadnews – Growing demand and preferential policy provided a steady growth of the Chinese automobile market in July, Chinese media reported.

According to the China Association of Automobile Manufacturers, Chinese auto industry output in July of this year increased by 28.9% on a year-on-year basis up to 1.96 million vehicles. With this, the sales have grown by 23% to 1.85 million units. In particular, the production and sale of passenger cars at the end of July increased by 31.8% and 26.3% compared to the same period of last year.

During the first seven months of 2016, China’s production and sales of cars rose by 9% and 9.8% respectively.

Cars using the new sources of energy are still very popular among the buyers, production and sales almost doubled in this segment. Another segment of high demand is a one of offroaders. Small cars segment is supported by special preferential tax terms.