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12 JUNE 2019 AL CIRCLE

China’s auto sales in May decline 12.5% YoY, but sales of NEVs record a growth by 5.4%

EDITED BY : DEBANJALI SENGUPTA 1MINS READ

Shanghai Metals Market data shows that China’s auto sales in May have declined for the 12th straight year. Retail sales of sedans, sport utility vehicles (SUVs), minivans and multipurpose vehicles (MPVs) inched down 12.5 per cent year on year and came in at 1.61 million units, according to the China Passenger Car Association (CPCA).

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In April 2019, the retail sales of sedans, SUVs, and MPVs had declined by 16.6 per cent, while that in March by 12 per cent.

Excluding minivans, passenger car sales, on the other hand, increased 4.8 per cent month on month in May to 1.58 million units. This marks the largest month on month growth, likely bolstered by the efforts to clear inventories before new emission standards take effect in July.

The new energy vehicle (NEV) sector also remained robust in May 2019. According to the CPCA data, the wholesales of new energy sedans, SUVs and MPVs came in at 97,000 units, up 5.8 per cent from April and 5.4 per cent from May 2018.

Also, the total sales of new energy vehicles during January-May stood at 442,000 units, up 58 per cent from the same period last year.


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EDITED BY : DEBANJALI SENGUPTA 1MINS READ

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