China’s Car Sales Slow as Price War Disrupts Market

What’s new: China’s passenger vehicle sales are losing momentum during the first half in a turbulent market, plagued by weakening consumers sentiment and a brutal price war.

Car sales during the first six months totaled 9.5 million units, rising only slightly by 2.7% from a low point a year ago when strict Covid controls disrupted sales. The figure is 4.1% lower than the same period in 2021, according to data released by the China Passenger Car Association (CPCA).