To The Moon

BEIJING, June 29 (TMTPOST)— China’s auto association showed optimistic on sales in this month following the government’s new fiscal stimulus. Source: Visual China From June 1st to 26th, the wholesale volume of passenger cars rose 40% year-over-year (YoY) to 1.504 million units, increasing 49 percentage points from the YoY growth in the same period a month ago, and sales represented a 34% month-over-month (MoM) increase, according to China Passenger Car Association (CPCA). CPCA said that overall performance in June would be promising as the retail sales seemed better than the industry’s forecast given authorities’ recent policies to spur economic growth. As the major auto makers saw rapid growth in wholesales deliveries in the month, the auto group expected sales of new energy vehicl