According to the China Association of Automobile Manufacturers (CAAM), China’s automobile production and sales in May were 2.33 million units and 2.38 million units respectively, up 9.4% and 10.3% month-on-month, and up 21.1% and 27.9% year-on-year. Total output and sales in the first five months of the year were 10.687 million and 10.617 million vehicles respectively, both up 11.1% year-on-year.
In May, the rapid growth of new energy vehicles continued, and the market share further increased. The production and sales of NEVs in May reached 713,000 and 717,000 respectively, a month-on-month increase of 11.4% and 12.6%, and a year-on-year increase of 53% and 60.2%, respectively, with a market share of 30.1%.
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