China’s May NEV sales narrow contraction

BEIJING (XINHUA) – Sales of new energy vehicles (NEVs) in China narrowed contraction as the world’s largest auto market steadily expands its recovery, industry data showed.

The year-on-year sales drop during the January-May period was 4.7 percentage points smaller than that registered in the first four months, according to the China Association of Automobile Manufacturers (CAAM).

Some 289,000 NEVs were sold within the period, while about 295,000 units were produced, down 38.7 per cent and 39.7 per cent, respectively, year on year. The decrease in NEV production narrowed by 5.1 percentage points from the January-April period.

CAAM data also showed China’s auto market ramped up expansion in recovery last month.