June Auto Sales Rise

China’s auto sales increased by 2.3% YoY in June due to high demand for SUVs. This growth figure is disappointing but expected considering the recent sales tax hike and slowing economic growth. SUV sales rose nearly 16% YoY, which partially offset a 4.3% YoY drop in sedan purchases. GM’s overall sales in China increased by 4.3% YoY, Ford Motor Co.’s sales rose 15% YoY and Mercedes-Benz’s sales jumped 34.5% YoY.