China’s auto sales increased 36.6% year on year to 10.88 million units from January to May as business activities continued to pick up speed amid ongoing economic recovery.
Sales of passenger vehicles boosted 38.1% year on year to 8.44 million units in the first five months of the year, according to the China Association of Automobile Manufacturers (CAAM).
In May alone, auto sales amounted to 2.13 million units, dropping 3.1% year on year.
“China’s automobile consumption has remained normally stable in the first five months,” the CAAM said.
The new energy vehicles (NEV) market in the country has shown positive results, with its sales increasing 220% year on year to over 900,000 units from January to May.
In May alone, NEV sales increased 160% year on year to 217,000 units.
The better-than-expected NEV sales came as the government support production of eco-friendly cars.
Automobile exports also reported upbeat data, with Chinese automakers exporting 670,000 vehicles in the first five months, showed an increase of 110% from last year. In May, China’s auto exports increased 210% year on year to 151,000 vehicles, the CAAM said.
