Car sales in China in May rose 14.5% from the same month a year earlier, according to industry data released on Thursday. For the second month in a row, there has been an increase in the world’s largest automobile market after a collapse caused by restrictions due to the coronavirus pandemic.
In April, car sales in China grew 4.4%, while in March there was a drop of 43%. Until April, the automobile market in China experienced a nearly two-year decline. According to China’s largest automobile association, the China Association of Automobile Manufacturers (CAAM), car sales in the country grew in May to 2.19 million units.
Government support policies and increased consumer confidence fueled growth in May, CAAM senior Chen Shihua said during an online briefing on Thursday, adding that the development of the global coronavirus pandemic could affect demand for Chinese-made cars in other countries.
At the same time, in May car sales in the country on new energy sources (new energy vehicle, NEV) fell to 82,000 units, which means the decline in sales in this segment, which has been ongoing for the eleventh consecutive month.
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