Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

China's auto sales fell 3% in May, first drop in 14 months

06/11/2021 | 02:43am EDT
Cars for export wait to be loaded onto cargo vessels at a port in Lianyungang

BEIJING (Reuters) -Vehicle sales in China fell 3% in May from the same month a year earlier, snapping a streak of 13 consecutive months of gains since April 2020, industry data showed on Friday.

Overall sales in the world's biggest car market totaled 2.13 million vehicles in May, data from the China Association of Automobile Manufacturers (CAAM) showed.

China sold 10.88 million vehicles between January and May, up 36% from the same period a year earlier.

A global chip shortage and surging raw material prices are having an increasing impact on automakers in the country, said Chen Shihua, senior official at CAAM.

But Chen said CAAM remains cautiously positive about the sector's outlook. The industry body earlier expected China's overall vehicle sales to grow 6.5% this year.

Sales of new energy vehicles (NEVs), including battery-powered electric vehicles, plug-in petrol-electric hybrids and hydrogen fuel-cell vehicles, maintained their strong momentum, jumping 160%, with 217,000 units sold in the month.

NEV makers, such as Nio Inc, Xpeng Inc and BYD, are expanding manufacturing capacity in China, encouraged by the government's promotion of greener vehicles to cut pollution.

Tesla Inc sold 33,463 China-made electric cars in May.

Automakers including Honda Motor , Geely , and General Motors Co's China joint venture reported lower sales in May.

(Reporting by Yilei Sun and Tony Munroe; Editing by Clarence Fernandez and Kim Coghill)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
GENERAL MOTORS COMPANY -2.72% 60.08 Delayed Quote.44.28%
NIO INC. 5.20% 47.36 Delayed Quote.-2.83%
XPENG INC. 7.82% 44.24 Delayed Quote.3.29%
Latest news "Economy & Forex"
05:59pARS AGRICULTURAL RESEARCH SERVICEá : Statement from Agriculture Secretary Tom Vilsack on Organic Livestock and Poultry Practices Final Rule
PU
05:36pDollar Lost 0.43% to 110.24 Yen -- Data Talk
DJ
05:36pSterling Lost 0.44% to $1.3926 -- Data Talk
DJ
05:36pEuro Lost 0.75% to $1.1907 -- Data Talk
DJ
05:36pThe WSJ Dollar Index Rises 0.42% to 86.68 -- Data Talk
DJ
05:30pNhtsa released spreadsheet of crashes where driver assistance systems were suspected to be in use --agency
RE
05:30pU.s. auto safety agency says it has opened 30 investigations into tesla crashes since 2016 involving 10 reported deaths --agency
RE
05:12pANALYSIS : Biden may hinder oil and gas drilling even after court loss
RE
05:11pUtilities Up On Rotation Out Of Commodities Sectors -- Utilities Roundup
DJ
05:09pCommunications Services Up On Growth Bias -- Communications Services Roundup
DJ
Latest news "Economy & Forex"