China’s Auto exports surged 73% MoM in May setting a new record for 2022

Written by Cláudio Afonso | | LinkedIn | Twitter

According to the data reported by the China Association of Automobile Manufacturers, automobile exports surged to 245,000 vehicles in May, up 73 percent month-over-month. The result represents a new record high for 2022 and 62.3 percent more when compared to May 2021.

Of the 245,000 vehicles exported in May, approximately 196,000 were passengers cars, up 69.7 percent from May 2021. In addition, the exports of commercial vehicles climbed 38.2 percent from 2021 to about 49,000 units.

In the first five months of the year, China’s automobile firms exported about 969,000 vehicles, 44.7 percent more from the same period last year.

According to the China Passenger Car Association (CPCA), 1.354 million passenger vehicles were sold in the country in May, representing a decrease of 16.9% year-over-year and a 29.7% increase from the previous month. Total sales of passenger car manufacturers nationwide were 1.557 million units, down 3% year-on-year and up 64% month-on-month.

In terms of new energy vehicles (NEVs), 360k units were sold in China representing a 91.2% increase when compared to May 2021. When considering the first five months of the year, the country more than doubled the numbers selling 1.712 million new energy vehicles, 119.5% more when compared to January – May 2021.

Written by Cláudio Afonso | | LinkedIn | Twitter