Chinese Auto Industry Rebounds in May

Chinese Automobile Sector Rebounds in May
Chinese Auto Industry Rebounds in May

According to the data released by the China Automobile Manufacturers Association, in May, China's automobile production reached 59,7 million 1 thousand, with an increase of 926 percent compared to the previous month, while its sales reached 57,6 million 1 thousand with an increase of 862 percent.

According to the data, automobile production fell 5,7 percent year-on-year in May, and sales fell 12,6 percent.

Chen Shihua, Deputy Secretary General of the China Automobile Manufacturers Association, said, “Overall, automobile production and sales recovered significantly in May compared to last month. Recently, the Chinese government has taken a series of measures that promote consumption and steady growth of the industry. The market has been thoroughly revived.” said.

According to the data of the China Automobile Manufacturers Association, in the first five months of the year, automobile production in the country decreased by 9,6 percent on an annual basis to 9 million 618 thousand, while sales decreased by 12,2 percent to 9 million 555 thousand. In addition, in the January-May period, both the production and sales of new energy vehicles in China increased by 1,1 times compared to the same period of the previous year.

Chen stated that the recovery trend in China's automobile production and sales is expected to continue in June, thanks to policies such as reducing taxes on vehicle sales.

Similar Ads

Be the first to comment

Comments