CAAM: China’s early-May auto sales down 20% on month
May 14, 2020 15:30
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Sales among China’s eleven major auto manufacturers declined by a large 19.9% on month or by 13.9% on year to 351,000 units over May 1-10, according to statistics from the China Association of Automobile Manufacturers (CAAM) published on May 13. The decline in sales indicated that actual demand for new vehicles remains soft, Mysteel Global noted.
In early May, vehicle production among those surveyed auto makers also decreased too by 19% on month to 429,000 units, though being up 2% on year, the statistics showed.
Last month, thanks mainly to the delay in new vehicle demand over the past few months, domestic automotive sales had increased by