Earlier this week Arno had the intitial round of numbers showing slipping China car sales:
Follow-up numbers from the China Association of Automobile Manufacturers (CAA) were released on Wednesday. These were ven worse, showing that car sales in August dropped by 5.0% y/y
- July was -5.2%
- June was -2.7%
Sales of ICE vehicles plunged, sales of new energy vehicles (NEVs), including battery EVs and plug-in hybrids, surged.
