According to the automobile market analysis conducted by the China Passenger Car Association (CPCA), retail sales of passenger cars in China totaled 1.547 million units in May this year, down 20.0 percent year-on-year and up 12.0 percent month-on-month.
In the first five months of this year, retail sales of passenger cars in China were estimated to be 7.15 million units, down 19.0 percent year-on-year.
According to the CPCA, retail sales of NEVs in China in May were estimated to be 974,000 units, down 5.0 percent year-on-year, while increasing 15.0 percent month-on-month. In May alone, the market share of NEVs reached 63 percent, reaching a new all-time high.
Retail sales of NEVs in China were estimated to be 3.732 million units in the first five months of this year, down 14.0 percent year-on-year, and the market share of NEVs reached 52.2 percent.
According to the CPCA, as As automakers ramp up advertising efforts, retail sales are expected to rebound. Market divergence will continue, with NEVs and low-cost entry-level models likely to outperform traditional fuel vehicles, as well as mid- and high-end JV brands.
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