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China's vehicle sales increase in May

• Monday, June 15, 2020
• Source:ferro-alloys.com

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[Ferro-Alloys.com] 

 

Vehicle sales in China increased by 14.5pc in May from a year earlier, in only the second year-on-year increase since June 2018.

 

China's vehicle sales totalled 2.194mn in May, and production rose by 18.2pc to 2.187mn from May 2019, the China Association of Automobile Manufacturers (CAAM) said on 11 June. Vehicle sales in April and May increased on the year, an occurrence last seen in June 2018.

 

January-May sales fell by 22.6pc, with the latest months paring year-to-date declines of 43pc in March and 31.1pc in April

 

January-May vehicle production decreased by 24.1pc from a year earlier.

 

China's auto sector accounts for around 7pc of total steel demand, especially for hot-rolled coil, and around a third of global auto sales.

 

Source: Argusmedia

 

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