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Translated by:  MOS English Team – Wenqin

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Due to semiconductor shortages and lockdown measures dragging down the global automobile market, car sales in China and Europe are still sluggish compared with last year’s data. According to data from the China Passenger Car Association, China’s auto retail sales increased in May from April, but they were still down 16% from last year. The association called on the authority to provide more support to the industry.

In Europe, according to data from JATO, an automotive consulting company, new car sales in Europe fell by 20%. Among them, sales of electric vehicles -which are usually more resistant to supply chain problems in recent months because automakers prioritize electric vehicle production -also fell by 1.4%. Although sales of battery electric vehicles have risen, the reason for the decline is that sales of plug-in hybrid vehicles have fallen by 15%, and their environmental certification is under increasingly stringent review by European regulators.

Chinese data show that overall, Chinese auto sales in the first quarter increased by 0.2% over the same period last year. In contrast, according to JATO data, year-to-date sales in Europe fell by 13%, the second lowest level since 1991. Nevertheless, further economic data from China paint a tough picture, with the economy only partially recovering from pandemic-fighting measures.

Nomura Global Economics said that road transport and express delivery from distribution centers were much more last week than a month ago, but they were still significantly less than last year. Chinese electric vehicle manufacturer Xiaopeng Motors (9868.HK) Chairman He Xiaopeng told analysts this week that the company is accelerating delivery after its factory in the southern city of Zhaoqing resumed double-shift production in mid-May.

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Edited by:  MikeHua
Posted by:  Beyond X

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