Passenger vehicle retail sales in China in May this year are estimated at 1.73 million units, up 6.6 percent month on month, while up 27.7 percent year on year, according to the forecast issued by China Passenger Car Association (CPCA). Meanwhile, new energy vehicle (NEV) retail sales in China in May are estimated at 580,000 mt, up 10.5 percent month on month, while up 60.9 percent year on year.
The CPCA said that passenger vehicle retail sales in China indicated year-on-year rises in May amid the low base in the same period of last year due to the negative impact of Covid-19 pandemic and the damage in supply chain.