China's Auto Sales Rise 11.7% in May... Growth Continues for 2 Consecutive Months
[Asia Economy Beijing=Special Correspondent Park Sun-mi] China's automobile sales maintained an upward trend for the second consecutive month.
On the 8th, Xinhua News Agency reported, citing the China Association of Automobile Manufacturers, that automobile sales in China reached 2.14 million units in May, an increase of 11.7% compared to the same period last year. The Chinese automobile market has maintained expansion for two consecutive months.
In April, automobile sales in China increased by 4.5%. The sales growth in May expanded significantly compared to April. The Automobile Manufacturers Association explained that last month's sales increase was driven by large-scale price cuts and Labor Day sales promotion events.
However, automobile industry experts warn that since the Chinese economy, hit by COVID-19, has not fully recovered, there is a possibility that sales volume in June may return to a downward trend.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
- "Am I Really in the Top 30%?" and "Worried About My Girlfriend in the Bottom 70%"... Buzz Over High Oil Price Relief Fund
- "It Has Now Crossed Borders": No Vaccine or Treatment as Bundibugyo Ebola Variant Spreads [Reading Science]
Meanwhile, due to the sharp decline in automobile sales caused by the COVID-19 impact from January to March this year, the cumulative automobile sales in China from January to May recorded 7.9 million units, a 23.1% decrease compared to the same period last year.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
