China Association of Automobile Manufacturers: Automobile retail sales in May 2022 increased significantly month-on-month

According to data from the National Bureau of Statistics compiled by the China Association of Automobile Manufacturers, in May 2022 , automobile production and sales showed a clear recovery in growth. Affected by this, automobile retail sales also grew rapidly on a month-on-month basis.

In May 2022 , automobile retail sales amounted to 318.6 billion yuan, a month-on-month increase of 24.1 % and a year-on-year decrease of 16% . The decline narrowed by 15.6 percentage points from the previous month, accounting for 9.5% of the total retail sales of consumer goods in the whole society , 0.8 percentage points higher than the previous month .

From January to May 2022 , the retail sales of automobiles reached 1.6594 trillion yuan, a year-on-year decrease of 9.9 % , with the decline larger than that from January to April , accounting for 9.7% of the total retail sales of consumer goods in the whole society .