The Chinese car market keeps plodding along. Total vehicle sales were 1,761,500 in May, up 9.81 percent. Passenger car sales were up 9.04 percent to 1,419,700 units. Commercial sales were up 12.88 percent to 364,600 units, the Chinese auto manufacturer association CAAM says.
For the first five months total vehicle sales stand at 9,028,100 units, up 12.56 percent. Passenger vehicle sales are up 14.73 percent to 7,261,600 units January through May, commercial vehicle sales increased 4.45 percent to 1.7665 million. The latter is a positive sign, and commercial vehicle heavy GM will read the tea leaves with optimism.
The CAAM thinks that based on the current trends, China’s automobile production and sales should be over 10 million in the first six months, and therefore on its way to finally pierce the 20 million mark when the year ends.
January-May, exports from China were 402,300 units, up 5.3 percent.