CAAM: China’s May auto sales up further by 5.9% on month
Jun 12, 2020 14:30
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Better than expected, China’s auto sales rose on year and on month for the second successive month in May after a 21-month continuing drop, up 14.5% on year or 5.9% on month to 2.2 million units, mainly due to the government’s preferential policies and robust demand for trucks for infrastructure construction, according to the release from the China Association of Automobile Manufacturers (CAAM) on June 11.
Earlier on June 2, the association had predicted a 3.2% on-month and 11.7% on-year rise for May auto sales to 2.1 million units, as reported. And China’s auto production increased too accordingly by 18.2% on year or 4% on month to 2.2 million units last month, according to the CAAM