Chinese automaker Geely Auto Group has stated that its overall sales volume amounted to 90,309 units in May, down 26.6 percent year on year, while its sales volume in the first five months amounted to 560,805 units, down 12.0 percent year on year.
Meanwhile, vehicle sales of another major Chinese automaker, Great Wall Motors, amounted to 62,559 units in May, down 11.78 percent year on year, while reaching 430,200 units in the first five months, up 5.11 percent year on year.
Market analysts state that consumers were less willing to buy cars in May due to the approaching implementation of new emission standards for vehicles. The slack performance of the vehicle market will negatively affect the steel market.