CAAM: China’s car sales rose 11.7%YoY in May

SHANGHAI, June 3 (SMM) – Sales of automobile in China rose 11.7% to 2.14 million units in May from a year earlier, according to the flash estimate by the China Association of Automobile Manufacturers (CAAM) released Tuesday.

This would inch up 3.2% from April, when China’s car sales came in at 2.07 million units, registering a year-over-year increase of 4.4%, the first rise in 22 months.

For the first five months of 2020, China’s car sales are estimated to reach 7.9 million units, down 23.1% from the same period the year before, compared to a 31.1% decline registered in the January-to-April period.