BEIJING/SHANGHAI — China’s passenger vehicle sales returned to growth in August year-on-year, as deeper discounts and tax breaks for environmentally friendly and electric vehicles boosted consumer sentiment even as economic growth remains weak.
Car sales jumped 2.2% in August from the same month a year ago to 1.94 million units, data from the China Passenger Car Association (CPCA) showed on Friday, the first year-on-year gain since May.
Sales rose 8.5% from July. For…
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