SHANGHAI, June 3 (SMM) -- According to data from China Automotive Technology and Research Center (CATARC), China's automobile production was 1.313 million mt in May, down 14.36% MoM, and up 22.56% YoY; China's automobile sales were 1.195 million mt in May, down 13.95% MoM, and up 29.74% YoY.
In May, production and sales of passenger and commercial automobiles both fell on a monthly basis, presenting an unfavorable picture of development in China's automobile market. Of those, production of passenger automobiles was 950,700 vehicles in May, down 12.92% MoM, and up 18.59% YoY; sales of passenger automobiles were 885,800 vehicles, down 10.85% MoM, and up 25.02% YoY.
A turning point is emerging in automobile market, as evidenced by a month-on-month decline in China's automobile production and sales in May. After entering late May, operating rates at domestic lead-acid battery producers have experienced declines to a different degree. If China's automobile production and sales continue to drop, negative impact on lead demand in China will expand, leaving an unfavorable outlook for lead market.
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