China's vehicle sales edge up 1.2% in May on demand for SUVs
China's light vehicle sales growth continued to lose steam in May, rising 1.2 percent year on year despite price cuts by General Motors, Volkswagen, Ford and Hyundai.
Last month, industry sales of sedans, SUV, MPVs and microvans totaled 1.61 million vehicles, according to the China Association of Automobile Manufacturers.
Demand for sedans and microvans was especially weak. Sedan sales dropped 10 percent to 907,000 units while, microvan deliveries plunged 22 percent to 102,500 units.
But demand for SUVs has remained robust, as sales surged 44 percent to 459,300 units.
As Chinese car buyers migrated to bigger vehicles from sedans and microvans, MPV sales also rose 8 percent last month to nearly 140,500 units.
Thanks to a relatively strong market early this year, China's light vehicle sales in the first five months increased 5 percent from a year earlier to approximately 8.58 million units.
Demand for sedans and microvans was especially weak. Sedan sales dropped 10 percent to 907,000 units while, microvan deliveries plunged 22 percent to 102,500 units.
But demand for SUVs has remained robust, as sales surged 44 percent to 459,300 units.
As Chinese car buyers migrated to bigger vehicles from sedans and microvans, MPV sales also rose 8 percent last month to nearly 140,500 units.
Thanks to a relatively strong market early this year, China's light vehicle sales in the first five months increased 5 percent from a year earlier to approximately 8.58 million units.
