Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BEIJING, June 9 (Xinhua) — China saw double-digit growth in passenger car retail sales last month as the country continued to implement policies to stimulate consumption, the China Association of Passenger Automobile Manufacturers said Monday.
According to the association’s statistics, in May this year, retail sales of passenger cars in the country increased by 13.3 percent year-on-year and exceeded 1.93 million units.
To stimulate domestic demand and support economic recovery, China launched a large-scale trade-in program in 2024. Under the program, individual consumers can receive subsidies to buy new cars, home appliances and many other items. The program was expanded earlier this year.
According to China’s Ministry of Commerce, 4.12 million new vehicles were sold under the program in the first five months of this year.
In addition, about 1.17 million new energy vehicles were produced in the country in May, and retail sales of such vehicles exceeded 1.02 million units, up 30.2 percent and 28.2 percent year-on-year, respectively.
According to the association, in the first five months of this year, retail sales of passenger cars in the country exceeded 8.81 million units, up 9.1 percent. -0-