Auto sales up 14% y-o-y in July
Auto sales rebound in July: Auto sales showed signs of recovery in July from a downturn in the second quarter caused by the covid-19 pandemic, according to industry data released yesterday. Figures released by the Automotive Marketing Information Council (AMIC) showed sales rising 14.4% y-o-y in July to reach 18.3k vehicles, compared to 16k vehicles last year. Sales volume fell by as much as 26% during the government’s partial lockdown of the economy, which caused dealerships to close and consumer demand to fall.
In detail: The rise was driven mainly by bus sales, which increased 58.9% to 2.4k vehicles, compared to 1.5k vehicles sold last July. Trucks sales rose 15% to 3.3k vehicles, compared to 2.9k last year. Sales of passenger cars jumped around 8% to 12.5k vehicles, compared to 11.5k sold in July 2019.