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14 JUNE 2020 AL CIRCLE

China’s automobile production and sales achieve double digit growth in May, cumulative sales in five months decline: CAAM

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

According to the China Association of Automobile Manufacturers (CAAM), the country’s automobile production and sales both achieved double-digit growth in May. As per the data shown by CAAM, around 2.19 million units of automobiles were produced and sold in China last month.

China’s automobile production and sales achieve double digit growth in May

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The production rose 4 per cent month-on-month and 18.2 per cent year-on-year, much higher than the annual growth of 2.3 per cent in April.

The sales increased 5.9 per cent over the month and 14.5 per cent over the year, compared to the year-on-year rise of 4.4 per cent in the previous month, the first growth in 22 months.

However, despite the year-on-year growth recorded in May, China’s total car production in the first five months of 2020 stood down by 24.1 per cent from the same period last year totalling 7.79 million units.

Total sales during January-May, on the other hand, came in at 7.96 million units, a decrease of 22.6 per cent from the corresponding period last year.

The association also reported year-on-year declines of 25.8 per cent and 23.5 per cent in China’s new energy vehicle production and sales in May.

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China produced 84,000 new energy vehicles in May, bringing the total production during January-May to 295,000 units, down 39.7 per cent from the same period last year.

Sales of NEVS totalled 82,000 units in May, which brought the cumulative sales in the first five months of the year to 289,000 units, down 38.7 per cent year-on-year.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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