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Car Sales Up In May

CHINA PRESS

Carmakers sold 1.7 million passenger vehicles in May, down 3% y/y but up 10% m/m, according to China Passenger Car Association preliminary statistics. New energy vehicles retailed 790,000 units, up 36% y/y and 17% m/m, with merchants selling well during the May holiday, when several major car shows were held. Looking ahead, car sales should remain stable over the summer off-season, the association said. (Source: Yicai)

MNI Beijing Bureau | lewis.porylo@marketnews.com

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