Trading Ideas
China’s Monthly Car Sales Rise for First Time in Almost a Year
(Bloomberg) — Car sales in China rose for the first time in almost a year last month, evidence that the world’s largest auto market is rebounding from the coronavirus crisis and the trade war with the U.S.Retail sales of cars, SUVs and multiple-purpose vehicles increased 1.9% from a year earlier to 1.64 million units in May, the China Passenger Car Association said Monday. That’s the first gain since June 2019.The government added stimulus measures such as tax rebates to attract consumers back to showrooms, while automakers that shuttered operations amid the coronavirus outbreak now offer generous discounts. The pandemic exacerbated …read more […]