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Chinese auto sales in May at 1.5 million vehicles up by 13%

Bloomberg reported that passenger-vehicle sales in China rose 13% last month, led by General Motors Company and Ford Motor Company as foreign carmakers continued to gain share from local brands in the world’s largest auto market.

China’s Passenger Car Association said today in a statement on Secretary-General Mr Rao Da’s blog that retail deliveries of cars, multipurpose and sport utility vehicles climbed to 1.5 million units in May

Separate data from the state backed China Association of Automobile Manufacturers, said that May auto sales climbed 13.9% from a year earlier to 1.59 million units. Exports fell 12%, while inventory levels rose to a record last month, according to the trade group.

Chinese automakers accounted for 21.5% of industry car sales last month, a decline of 5.1%age points from a year earlier

German marques led with 28.7% of the market, followed by the Chinese, Japanese, American, Korean and French marques.

Mr Harry Chen, an automotive analyst with Guotai Junan Securities Company in Shenzhen, said that “China’s car demand has been rising steadily this year with foreign brands leading the growth. Both local and foreign automakers are trying to gain more market share as consumers advance their purchases on concern their city may cap the growth in vehicle ownership.”

Source – Bloomberg


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