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China July vehicle sales up 6.2 pct y/y - industry association

China July vehicle sales up 6.2 pct y/y - industry association

BEIJING, Aug 11 (Reuters) China's overall vehicles sales grew 6.2 percent in July from a year earlier to 1.97 million vehicles, showing that the world's largest auto market continues to rebound from the weakness it saw in April and May, the China Association of Automobile Manufacturers (CAAM) said on Friday. In June, vehicle sales volume rose 4.5 percent from a year earlier. In the first seven months of the year, sales grew 4.1 percent from the same period last year to 15.3 million vehicles, the association said at a briefing in Beijing. In January, CAAM predicted sales would rise 5 percent this year, slowing from 13.7 percent in 2016, citing the rollback of a tax incentive for small-engine cars and economic pressures. Sales of so-called new energy vehicles – all electric battery cars and plug-in hybrid vehicles – increased 55.2 percent in July from a year earlier to 56,000 vehicles. New-energy vehicles sales totaled 251,000 vehicles during the first seven months of 2017, up 21.5 percent from a year ago. REUTERS AKC 1201

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