Automotive Production and Sales Decline Narrowed in May, New Energy Vehicle Market Share Hits Record High

[Market Data] In May, the year-over-year decline in automotive production and sales narrowed, with both new energy vehicle (NEV) sales and exports reaching record monthly highs.

Key Data: NEV Market Share Reaches 56.9%, Exports Remain Strong

May vehicle sales totaled 2.629 million units, down 2.1% year-over-year but up 4.1% month-over-month. Cumulative sales from January to May reached 12.207 million units, with the year-to-date decline narrowing to 4.2%. Of this, NEV sales in May reached 1.496 million units, an increase of 14.4% year-over-year, pushing their market share to a record high of 56.9%.

Strategic Foundation: Commercial Vehicle Recovery and Export Growth Bolster Overall Resilience

Commercial vehicle sales in May totaled 376,000 units, up 12.5% year-over-year, providing critical support. Meanwhile, passenger vehicle sales reached 2.253 million units, down 4.2% year-over-year. Robust export growth continued, helping the industry maintain resilience despite domestic demand pressures.