Car industry takes heart from month of growth in China

23/06/2020

Car manufacturers sold 1.6 million new passenger vehicles in China in May, making it the first month of growth the automotive industry has reported in China for two years. This figure represented an increase of 6.3% compared to May 2019.

Sales for the first five months of the year show a total of just under 6 million vehicles, 27.4% down on the same period last year, but automotive companies will take heart from the positive figure for May.

Industry commentators have said incentive programmes to encourage consumers to buy new cars are starting to work.