China eases Covid curbs as car sales jump

HONG KONG – China’s car sales rose nearly 23% in June from a year ago, as production in lockdown-hit Shanghai improved to meet demand and government cash incentives Encouraged shopping in the world’s largest auto market.

Passenger car sales also rose sharply from 1.35 million vehicles in June to 1.94 million in June, the China Passenger Car Association said on Friday, making up for lost time after declining in recent months due to pessimism over the economy and social restrictions. signal of. To fight the pandemic.