China Association of Automobile Manufacturers Preliminary statistics show that the retail sales of passenger cars in May this year were 1759 million units

In May of this year, the retail sales of passenger cars in China were 1759 million units according to the China Association of Automobile Manufacturers

【PhoneAuto News】On June 7th, PhoneAuto learned that according to preliminary statistics from the China Association of Automobile Manufacturers (CAAM), the retail sales of passenger cars in the Chinese market reached 1.759 million units from May 1st to May 31st, an increase of 30% year-on-year and 8% month-on-month. Overall, the cumulative retail sales from January to May this year reached 7.654 million units, a year-on-year increase of 4%.

In addition, in May of this year, the wholesale sales of passenger cars by Chinese automakers reached 2.015 million units, a year-on-year increase of 27% and a month-on-month increase of 13%. From January to May this year, the cumulative wholesale sales reached 8.857 million units, a year-on-year increase of 11%.

In addition, CAAM estimates that the retail sales of new energy passenger cars in the Chinese market reached 557,000 units in May, a year-on-year increase of 55% and a month-on-month increase of 6%. The cumulative retail sales from January to May reached 2.4 million units, a year-on-year increase of 40%. The wholesale sales of new energy passenger cars in May reached 670,000 units, a month-on-month increase of 11% and a year-on-year increase of 59%. It is estimated that from January to May, the national wholesale sales of new energy passenger cars by Chinese automakers reached 2.78 million units, a year-on-year increase of 46%.

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It is reported that in April 2023, the retail sales of passenger cars in the Chinese market reached 1.63 million units. Due to the impact of the epidemic in Shanghai, Jilin, and other places in the same period last year, the year-on-year growth rate was 55.5%, and the month-on-month growth was 2.5%, which is one of the two rare month-on-month increases since 2010. Among them, the retail sales of new energy vehicles in April reached 527,000 units, a year-on-year increase of 85.6% and a month-on-month decrease of 3.6%; the wholesale sales of new energy passenger cars reached 607,000 units, a year-on-year increase of 115.6% and a month-on-month decrease of 1.7%.

It is worth mentioning that CAAM predicts that the sales of new energy passenger cars in China will reach 8.5 million units and the sales of narrow passenger cars will reach 23.5 million units in 2023, and the annual new energy vehicle penetration rate is expected to reach 36%. At present, the operating status and predictions are basically consistent.

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