The Chinese Bought Less Cars in May…
Business news
Vehicle sales in China fell 3% in May from the same month a year earlier, snapping a streak of 13 consecutive months of gains since April 2020, industry data showed on Friday.
Overall sales in the world’s biggest car market totaled2.13 million vehicles in May, data from the China Association of Automobile Manufacturers (CAAM) showed. China sold 10.88 million vehicles between January and May, up 36% from the same period a year earlier.
A global chip shortage and surging raw material prices are also having an increasing impact on automakers in the country, said senior officials at CAAM.
