Tianjin July New Car Sales Hit Another Historic High, Consumption Sentiment Rebounded Significantly

According to data from the Tianjin Automotive Circulation Industry Association, Tianjin's new car sales in July increased by 18% year-on-year to 35,000 vehicles, setting a historical record high. Among them, sales of city operation vehicles increased strongly by nearly 20%; sales of multiple SUV models increased by more than 30% year-on-year.

Sales managers from several major automobile 4S stores in Tianjin indicated that since June, consumers' willingness to purchase cars has clearly recovered. In the past month, pre-order volumes of various brands have increased significantly, and many popular models are temporarily out of stock. Analysts believe that as the epidemic is brought under control and real estate policies return to stability, it releases a strong purchasing confidence. On the other hand, with the summer auto promotion activities of various brands one after another, the deeper discounts of many new cars also boosted sales growth.

Compared with the same period last year, consumer demand rebounded more strongly this summer. If the economic fundamentals continue to improve, Tianjin's new car sales in the second half of the year will remain at a relatively high growth rate. Industry insiders forecast that annual sales may exceed 400,000 vehicles.