According to data provided by the China Association of Automobile Manufacturers, China’s vehicle sales were at ~1.89 million vehicle units in July. The number reflected an ~4.0% drop from China’s auto sales in July 2017. July was the second month in 2018 that China’s vehicle sales fell on a YoY (year-over-year) basis. China’s vehicle sales fell 11.1% YoY in February due to the Chinese New Year holiday. In June, China’s auto sales increased 4.8% YoY to 2.27 million units.