China Association of Automobile Manufacturers (CAAM) said Thursday that sales in the country soared by 29.7% in July to come in at 2.42 million units.
Production of vehicles in the same month rose by 31.5% year over year to 2.46 million units, while China's production of new energy vehicles increased by 120% to 617,000 units, and the sales amounted to 593,000 units hitting a new record.
The figures come amid widespread concern over inflation and the possible geopolitical and economic implications of conflict between Taiwan and China.