Market news

2 June 2020

China auto sales set to rise 12% in May: industry body

Reuters reports that China’s vehicle sales for May are set to rise 11.7% year on year to 2.14 million, the country’s top auto industry body said in a post on its official WeChat account on Tuesday.

The China Association of Automobile Manufacturers (CAAM) said that its forecast was based on sales data it had collected from key companies, without giving further details.

It expects January to May auto sales in China, the world’s biggest auto market, to fall 23.1% year on year to 7.9 million units, it said.

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

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