Canadian Plastics

China auto sales continued to slow in May

Auto sales growth decelerated further in China during May amid signs of weakness in China’s economic recovery.

June 9, 2013   Canadian Plastics

Auto sales growth decelerated further in China during May amid signs of weakness in China’s economic recovery.

According to China-based industry group the China Association of Automobile Manufacturers (CAAM), auto sales growth declined to 9 per cent over the same time last year from April’s 13 per cent.

China is the biggest auto market globally by number of vehicles sold, but sales growth has slowed amid mixed signals about whether China’s shaky economic recovery is gaining traction.

May sales of cars, SUVs and minivans totaled 1.4 million, CAAM said. Total vehicle sales including trucks and buses rose 9.8 per cent to 1.8 million units.

Sales of Japanese brands plunged last year as Beijing and Tokyo argued over ownership of a group of uninhabited islands in the East China Sea.

Total sales by Japanese brands suffered another decline, the CAAM also said, but it gave no details.

Toyota Motor Co. reported earlier that sales for the month were flat while Nissan Motor Co. reported a 2 per cent gain. The two companies and smaller Japanese brands suffered double-digit sales declines last year but they say demand is recovering.

Total sales by German brands also declined, while Korean and French manufacturers saw gains, CAAM said without giving details.

For the first five months of the year, sales of autos, SUVs and minivans rose 14.7 per cent to 7.3 million. Total vehicle sales rose 12.6 per cent to just over 9 million.


Print this page

Related Stories

Leave a Reply

Your email address will not be published. Required fields are marked *

*