China Vehicle Market Booms in May with New Energy Vehicle Sales Hitting a New High

SHANGHAI, Jun. 14 (SMM) – China’s vehicle market was red-hot in May with a large number of new autos streaming into market, SMM learns.

Vehicle sales in China was 2.09 million units in May, a year-on-year rise of 9.75% , and vehicle output was 2.06 million units, falling 5.08% month-on-month but up 5.01% year-on-year.

Sales of new energy vehicles recorded a new high for this year in May. New energy vehicle production came in at 37,000 units in May while sales volumes were 35,000 units, up 131.3% and 128.0% respectively on the yearly basis. Of the production and sales, battery electric vehicles claimed 29,000 units and 26,000 units, respectively, up 177.0% and 161.6% on the yearly basis, versus 9,000 units for plug-in hybrid electric vehicle both in production and sales, respectively up 49.3% and 68.7% year-on-year. 

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