Reported about 1 year ago
According to the China Passenger Car Association, the 'old-for-new' policy and a ceasefire in price wars have led to a surge in new energy vehicle purchases in May, with a year-on-year increase of 38.5%. The total retail sales of new energy vehicles reached 804,000 units, contributing to the overall passenger car market with 1.71 million units retail sales, showing an 11.4% increase from the previous month. This positive trend is expected to continue in June, supported by various policy measures, recent trade show effects, and a cooling in price competitions.
Source: YAHOO