Revised data shows China sales up 14.5% in May | Automotive Industry News

New vehicle sales in China expanded by 14.5% year on year to 2.19m units in May 2020 from weak year earlier sales of 1.91m units, according to revised data released by the China Association of Automobile Manufacturers (CAAM).

Last week the association released preliminary estimates showing the market had expanded 12% to 2.14m units.

Passenger vehicle sales increased by just 7% to 1.67m units last month while commercial vehicle sales jumped by over 48% to 520,000 units.

The revised May data brought the five month, year to date total to 7.96m units, down 22.6% on the 10.3m sold in the same period of last year, reflecting a sharp decline in the first quarter of the year due to the COVID-19 outbreak.

The market began to recover in April when sales increased by 4.4%, helped by discounts and dealer promotional activity as well as government incentives. 

But local analysts believe the recent rebound fulfilled much of the pent up demand which had accumulated in the first quarter and the market likely would slow in June. 

Domestic carmaker Geely reported a 20% sales rise to 108,822 units last month, resulting in cumulative five month sales of 420,317 units, while FAW-Volkswagen sales rose 22% to 186,777.

Toyota Motor said its local joint ventures sold 166,300 vehicles in May, up 20.1%, while Mazda sales jumped 31.6% to 22,886.

Honda reported a 1.7% decline to 134,230 cars.

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