May car sales point to recovery
China’s vehicle sales are estimated to rise 11.7 percent on year in May, its top auto industry body said yesterday, cementing hopes of a recovery in the world’s biggest auto market with the first back to back monthly sales increase in about two years.
The China Association of Automobile Manufacturers, in a post on its official WeChat account, said vehicle sales were estimated to rise to 2.14 million in May. It said the numbers were based on sales data it had collected from key companies, without giving further details.
CAAM expects January to May auto sales in China to fall 23.1 percent year on year to 7.9 million units.
As the global auto industry is hit hard by the coronavirus pandemic, China has become a ray of hope for automakers, including Volkswagen and General Motors.
In April, China’s auto sales hit 2.07 million units, up 4.4 percent YoY, the first monthly sales growth in almost two years, CAAM data showed.
It cautioned last month that even if China contains the outbreak effectively, its auto sales are expected to drop 15 percent this year, from over 25 million vehicles in 2019.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.