Car Sales in China Fell 3% in May, The First Decline in 14 Months

Auto sales in China fell 3% in May compared to the corresponding month last year, data for the sector showed, ending a 13-month straight winning streak that began in April 2020.

Data from the China Automobile Manufacturers Association showed that total sales in the world’s largest auto market amounted to 2.13 million vehicles in May.

China sold 10.88 million cars in the January-May period, up 36% from the same period a year ago.

Sales of new energy vehicles, including battery electric vehicles, gasoline-electric hybrids, and hydrogen fuel cell vehicles, maintained strong momentum, jumping 160% with 217,000 units sold in May.