Passenger vehicle retail sales in China in May this year are estimated at 1.759 million units, up 30.0 percent year on year, while rising by 8.0 percent month on month, according to the preliminary statistics by China Passenger Car Association (CPCA).
In the current year up to May 31, passenger vehicle retail sales in China amounted to 7.654 million units, up 4.0 percent year on year.
In May, new energy passenger vehicle retail sales totaled 557,000 units, up 55.0 percent year on year, while increasing by 6.0 percent month on month.
In the current year up to May 31, new energy passenger vehicle retail sales reached 2.4 million units, up 40.0 percent year on year.
According to the CPCA, dealers’ sentiments gradually stabilized, while consumers resumed reasonable consumption in May. In particular, demand for vehicles improved during the Labor Day holiday, especially due to some temporary subsidies issued by vehicle producers and local governments.