May New car sales in China increased by 14% year-on-year, with a cautious view on the future June 18th 18:26
China's new vehicle sales last month increased more than 14% from the same month last year, surpassing the same month last year for the second consecutive month. Although industry groups say they have outperformed expectations, they remain cautious about the future.
According to the announcement by the China Automobile Manufacturers Association, which is made by automobile manufacturers, the number of new cars sold in China last month was 2,194,000 units, an increase of 14.5% compared to the same month last year.
New car sales in China fell by nearly 80% compared to last year due to the influence of the new coronavirus, but turned positive in April, and last month exceeded the previous year for the second consecutive month. The growth rate has expanded to double digits.
Looking at the breakdown, passenger cars increased by 7% as local governments launched a series of leverage measures such as subsidies for new car replacement.
Furthermore, as construction projects are expected to expand as an economic measure, commercial vehicles such as trucks have increased by 48%. The industry group said that it had "more than expected" sales for the last month.
On the other hand, the recent increase in sales is partly due to the reaction that it could not be purchased during the period of infection with the new coronavirus, so it is not always said that the high level of sales will continue in the latter half of this year. I haven't lost my mind on the future.