Car Sales – China – May 2022: The reopening encourages the market

Car Sales – China – May 2022: The reopening encourages the market

In the month of May 2022, car sales in China have reached 1,623,000 units. A volume of registrations that, compared to that obtained in the same period last year, represents a small decrease of 1.4%. The Chinese market begins a new recovery process after the recent reopening of commercial activity.

The Chinese car market is in the process of recovery. The car sales in china have been about to close the month of May 2022 in positive. There have been a total of 1,623,000 units sold. This volume of registered cars, if compared to that obtained in the same period of time the previous year, represents a 1.4% drop.

It is important to remember that the data for April left us with a collapse of more than 40%. A fall due to the strict measures imposed by the Chinese authorities to stop the outbreaks of coronavirus that were occurring in certain areas of the country. Especially in Shanghai. Limitations on commercial activity hampered sales. China is following a very strict policy regarding the coronavirus.

The new Lynk & Co 01 has recently been presented in China

At the time that a new reopening of these affected areas began, the automobile sector has begun to experience a great recovery. Unfortunately, the accumulated data is still negative. In the period between the months of January and May, new car registrations accumulated 8,133,000 units, 3.6% less than in 2021.

Passenger cars account for the bulk of new vehicle registrations. The commercial vehicle sales continue to decline. In May, 239,000 units were reached, which represents a fall of 50.5% compared to the same period of time last year. And until May, commercial vehicle registrations accumulated 1,421,000 units, 41.9% less than in the previous year.

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The electric car accelerates its growth in China

Despite all the challenges that the Chinese market has been facing, the electric car maintains its upward trend and accelerates its growth in these months of anxiety. The so-called New Energy Vehicles (NEV for its acronym in English) accounted for a total of 427,000 units registered in May, which has meant a growth of 108.8% compared to 2021.

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Electric cars gain ground in China

It is important to emphasize that the NEV category includes both electric cars (BEV) and plug-in hybrid cars (PHEV). Of all the sales registered in May, 327,000 units (+97.0%) corresponded to 100% electric vehicles. The remaining 100,000 units (+159.8%) were plug-in hybrid cars.

Regarding the accumulated months, that is, until May, the sales of NEV vehicles accumulated 1,915,000 units, or what is the same, a growth of 113.4% compared to the same month last year. Of this volume of registrations, 1,500,000 units (+102.2%) were electric cars and the remaining 414,000 units (+167.1%) were plug-in hybrid models.

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CAAM / Autonews / CarSalesBase