Car sales in China show amazing results in first half of 2016

Vehicle sales in China rose 8.1 percent in the first half of the year, the automakers association said, well ahead of full-year predictions with the industry cautiously optimistic that positive sales momentum will continue.

Vehicle sales growth in the world's largest auto market stalled last year as the economy slowed before rebounding strongly in October supported by a tax cut on small engine cars.

Many industry watchers questioned whether the rebound could be sustained, but analysts say sales so far this year have met or exceeded expectations.

"People are cautiously optimistic," said Godfrey Tsang, a consultant and former vice president for Lexus China.

Sales grew 14.6 percent in June, the China Association of Automobile Manufacturers told reporters on Monday, the highest monthly growth since December 2015.

Reflecting the strong start to the year, LMC Automotive last month raised its prediction for annual growth by 0.4 percentage points to 8 percent in passenger vehicle sales for 2016.

Read more at Reuters.

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