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China NEV Sales Rise In May

CHINA PRESS
MNI (BEIJING)

China’s domestic carmakers sold 717,000 New Energy Vehicles (NEV) in May, up 60.2% y/y and reaching 30.1% of market share, according to data from China Association of Automobile Manufacturers. Buyers are likely to buy more cars in H2, typically the peak season, as government stimulus policies take effect, according to a note from Dongguan Securities. Additionally, China will boost its green home and smart-appliance industry by speeding up the certification process, and encouraging buyers to purchase, according to a notice from the Ministry of Commerce. (Source: Yicai)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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