Passenger vehicle retail sales in China reached 706,000 units in the May 1-14 period, up 55.0 percent year on year, while rising by 24.0 percent month on month, according to the China Passenger Car Association (CPCA).
In the current year up to May 14, passenger vehicle retail sales in China amounted to 6.602 million units, up 3.0 percent year on year.
In the May 1-14 period, new energy passenger vehicle retail sales totaled 214,000 units, up 101.0 percent year on year, while rising by 17.0 percent month on month.
In the current year up to May 14, new energy passenger vehicle retail sales reached 2.06 million units, up 41.0 percent year on year.
According to the CPCA, dealers’ sentiments gradually stabilized amid the slackening of price wars, while consumers began to consume more rationally, which released demand to some extent.