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The automobile market in China continued to inch up in May 2020, as found by the China Association of Automobile Manufacturers (CAAM). Sales rose 11.7 per cent year-on-year to come in at 2.14 million tonnes, according to the flash estimate by CAAM.
Month-on-month, the sales in May recorded an increase of 3.2 per cent, as the total units sold in April were 2.07 million, registering a year-on-year increase of 4.4 per cent, the first rise in 22 months. Month-on-month, the growth in April was by 39.8 per cent.
In March, automobiles sales in China recovered significantly from a month ago and stood at 1.43 million units, rising 361.1%.
In the first five months of 2020, China’s car sales are estimated to reach 7.9 million units, down 23.1 per cent from the corresponding period last year.
In the first four months of the year, China’s total car sales approximately stood at 5.67 million units, which were down by 31.1 per cent over the year.
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