China's Automobile Production and Sales both Drop Monthly in May

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.

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn