A “Beidouxing X5” rolls off the assembly line in Changhe Automobile Co. in east China’s Jiangxi Province [Xinhua]New auto sales figures from China may be the lone bright spot in an otherwise sluggish global economy as Chinese consumers continue to buy expensive new vehicles at record levels.
Auto sales in China surged 9.8 per cent year on year to 2.09 million units in May, data from an industry association showed Monday.
Sales of passenger cars rose by 11.3 per cent year on year to 1.79 million units in May, according to China Association of Automobile Manufacturers.
China is the world’s biggest auto market.
China’s passenger-vehicle sales rose for the ninth time in 10 months after a cut in the purchase tax, with General Motors Co. and Toyota Motor Corp. reporting increased deliveries among global carmakers.
The next few months of auto sales will show whether the Chinese economy has staying power, especially if consumers maintain buying momentum.
General Motors’ sales in China rose 17 per cent to 295,282 units last month. Toyota’s deliveries in the country climbed 12 per cent to 102,900 vehicles, while Honda Motor Co.’s sales jumped 24 per cent to 99,456 units.
Source: Agencies
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