Auto sales in China in May are estimated to have reached 1.725 million units, up 8.8 percent year on year, while rising by 5.0 percent month on month, according to the China Association of Automobile Manufacturers (CAAM).
In June of the current year, sales of automotive vehicles in China will likely decline as the supply shortage of chips has slowed down production and sales amid slackening demand for auto vehicles approaching the traditional offseason, according to CAAM.
Xiao Zhengsan, vice president of CAAM, said, “Auto sales have indicated sharp rises since the beginning of 2021, while we should be cautiously optimistic towards the future prospects for the market.”
The CAAM official added, “Auto sales in 2021 may keep in line with those in 2019, while there are some uncertainties for the rest of the year, including the supply chain and the shortage of chips, which will negatively affect the auto industry.”