Decline in auto sales widens further in May: CAAM

SHANGHAI, Jun 12 (SMM) – China's sales of automobiles in May extended their weak performance from April with a greater year-on-year decline, showed data from the China Association of Automobile Manufacturers (CAAM) on Wednesday June 12. 

Last month, sales of cars came in at 1.91 million units, down 16.4% on the year. The decline expanded from a year-over-year drop of 14.6% in April.

CAAM data also showed that sales of passenger vehicles in May shrank 17.4% on the year, to some 1.56 million units. 

The new-energy vehicles (NEVs) sector continued to expand in May but with slower year-on-year growth. NEV sales in May climbed 1.8% from a year ago, compared with a buildup of 18.1% in April, according to CAAM data. 

Sales of NEVs in the first five months rose 41.5% from January-May of 2018. 

Data from the China Passenger Car Association (CPCA) also showed on Wednesday June 12 that China’s car sales declined for the 12th straight month on a yearly basis in May.