China’s vehicle sales in May rise 16% year on year

11 June 2012 05:22  [Source: ICIS news]

SINGAPORE (ICIS)--China sold 1.61m units of vehicles in May, up by 16.0% year on year but down by 1.1% from April, official industry data showed over the weekend.

The country’s vehicle production in May totalled 1.57m units, representing a 16.2% increase compared with the same period last year, according to data from the China Association of Automobile Manufacturers (CAAM).

However, on a month-on-month basis, vehicle production declined by 4.7% last month, the association said.

On a year-on-year basis, China’s May passenger car sales at 1.28m units were up by 22.6%, with production decreasing by 21.6% to 1.27m units, CAAM data showed.

In the first five months of 2012, China’s total vehicle sales and production increased by 1.7% and 3.2% year on year to 8.02m units and 8.00m units respectively, according to the association.

Passenger car sales for the five-month period increased by 5.5% year on year to 6.33m units, with total production up by 7.1% at 6.34m units, the data showed.

Car production and sales data is an indicator of base oil demand and plastic consumption in the manufacture of automotive parts.

By: Fanny Zhang
+65 6780 4359

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