Hong Kong – China’s auto sales surged 14.5% in May, a second straight month of growth as the global industry’s biggest market gradually recovers…
Hong Kong – China’s auto sales surged 14.5% in May, a second straight month of growth as the global industry’s biggest market gradually recovers from the coronavirus pandemic.
The China Association of Automobile Manufacturers said Thursday that sales of passenger cars jumped 7% from a year earlier to 1.67 million, an improvement over April’s 2.6% contraction.
Growth in passenger vehicles was primarily driven by sales of SUVs and minivans, which jumped nearly 20% and 47% respectively from the same period the year before.
Passenger vehicle sales tumbled 27.4% from a year earlier to 6.1 million in January-May, the CAAM said.
The industry has been hammered by the coronavirus pandemic and worries over the slowing economy and a possible revival of trade tensions with the U.
