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