China's vehicle sales increased by 1.5% from a year earlier to 2.42 million in May 2024, slowing from a 9.3% rise in the previous month, according to data from the China Association of Automobile Manufacturers (CAAM). It recorded that sales of new energy vehicles surged by 33.3%. Meanwhile, a separate report from the China Passenger Car Association (CPCA) revealed that new energy vehicle sales accounted for 46.7% of total car sales in May, a new record monthly high.
...I said 'not great' not lower...but as you can say above, auto sales growth is decelerating.
