After months of falling, retail auto sales rebounded in China in August, spurred by tax breaks and incentives in the government’s efforts to increase alternative-fuel vehicle sales.
The China Passenger Car Association said year-over-year passenger car sales increased more than 2% to 1.9 million units and 8.5% month-over-month. Exports surged more than 30%.
Year-over-year sales hadn’t seen a bump in China since May, and this was the briskest sales month so far this year.
Deliveries of what the CPCA calls new-energy vehicles rose about 35%. Tesla, which itself has been cutting its prices, sold more than 84,000 wholesale of the Model Y that it made in Shanghai.
