China’s Automobile Production And Sales Both Increased in May

According to the China Association of Automobile Manufacturers (CAAM), China’s automobile production and sales in May were 2.33 million units and 2.38 million units respectively, up 9.4% and 10.3% month-on-month, and up 21.1% and 27.9% year-on-year. Total output and sales in the first five months of the year were 10.687 million and 10.617 million vehicles respectively, both up 11.1% year-on-year.

In May, the rapid growth of new energy vehicles continued, and the market share further increased. The production and sales of NEVs in May reached 713,000 and 717,000 respectively, a month-on-month increase of 11.4% and 12.6%, and a year-on-year increase of 53% and 60.2%, respectively, with a market share of 30.1%.