China June Car Sales Hit Record for the Month on Subsidy Boost

June is typically a slow period for car sales in China as the warmer weather kicks in but last month bucked that trend, with buyers seeking to take advantage of a government trade-in subsidy before it was suspended in key cities pushing transactions to a record.

Retail vehicle sales touched 2.1 million in June, a 7% increase from the previous June peak of 1.9 million in 2022, China’s Passenger Car Association said Tuesday. Wholesale and production figures also hit record highs for the month.