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Xinhua Credit
Industry

Retail sales of passenger vehicles in China ramp up in May

May 28, 2020


Abstract : The retail sales of passenger vehicles in China continued to ramp up in May, the Xinhua-run Shanghai Securities Journal reported on Wednesday.

BEIJING, May 28 (Xinhua) -- The retail sales of passenger vehicles in China continued to ramp up in May, the Xinhua-run Shanghai Securities Journal reported on Wednesday.

In the first three weeks of May, the daily retail sales of major manufacturers reached an average of 37,000 units, up 6 percent from a month earlier, according to the China Passenger Car Association (CPCA).

Chinese consumer market has recovered rapidly from the adverse impact of the COVID-19 pandemic, reflecting China's ultra-large-scale market advantages and huge domestic demand potential.

In April, the retail sales of passenger vehicles amounted to 1.43 million units, down 5.6 percent year on year but recovering from the 40-percent drop in March.

(Edited by Yang Yifan with Xinhua Silk Road, yangyifan@xinhua.org)

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Keyword: CPCA passenger cars

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