China auto sales hit 1.57 million in May 2012

A total of 1.57 million automobiles were manufactured in China last month, China Business News reported today. The figure, which comes from the China Association of Automobile Manufacturers, is 4.66 percent lower than April and 16.9 percent higher than last May.

Automobile sales, meanwhile, totaled 1.61 million units, decreasing 1.06 percent from April and growing 15.97 percent from last May.
May production and sales numbers for passenger automobiles were 1.27 million units and 1.28 million units, respectively.

The amount manufactured was 2.76 percent lower than the previous month, while the amount sold was 0.46 percent higher. Both figures represented positive year-on-year growth of slightly over 21 percent. 6.33 million passenger automobiles have been sold in the five month period from January to May.

Domestic own brand manufacturers sold 516,400 passenger automobiles in May. Their cumulative market share fell another 0.47 percent in April to 40.28 percent, a whole 3.28 percent less than last May. By comparison, German, Japanese, US, South Korean and French manufacturers sold 245,100, 238,800, 146,000, 100,400 and 35,200 vehicles. Their respective market shares were 19.12 percent, 18.63 percent, 11.39 percent, 7.83 percent and 2.75 percent.

US manufacturers' performance last month was particularly noteworthy, with their market share increasing a full 0.87 percent.
Furthermore, Chinese automobile exports broke the 100,000 unit barrier for the first time in May.

According to CAAM statistics, China exported a total of 103,400 vehicles last month, 18.2 percent more than the previous month and 43.4 percent more than last May. A total of 382,500 vehicles have been exported from January to May, with Algeria, Russia, Chile, Iraq and Iran being top buyers.

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