in

China July auto sales surge 16.4%, fourth month of gains

Sales rose to 2.11 million vehicles, according to data from the China Association of Automobile Manufacturers.

For the year to date, sales were down 12.7% to 12.37 million vehicles.

In July, sales of trucks, vans and other commercial vehicles, which constitute around a quarter of the overall market, surged 59.4%, while sales of passenger vehicles rose 8.5%.

Sales of new energy vehicles (NEVs) grew 19.3% to 98,000 units, ending 12 straight months of decline. NEVs include battery-powered electric, plug-in gasoline-electric hybrid and hydrogen fuel-cell vehicles.

Automakers which have reported sales growth in July include Great Wall Motor (SS:601633), Geely Automobile (HK:0175) and Toyota Motor Corp (T:7203).

The auto association said last month that China’s auto sales are expected to fall between 10% and 20% this year.

Airline shares surge as TSA numbers hit pandemic high, support for second bailout builds

C.E.O.s Pledge to Hire 100,000 Low-Income and Minority New Yorkers