China’s premium and luxury passenger car retail sales jumped 28% from a year earlier, the best performing sector as the industry, the China Passenger Car Association said, as the country gradually recovers from the coronavirus, reported Reuters.
Overall passenger car sales in May rose 1.9% from a year earlier to 1.61 million, the China Passenger Car Association (CPCA) said on Monday.
The association said during an online briefing that the retail sales growth beat expectations and signaled a recovery in the passenger car market. However, it forecasts sales in June will fall, citing last year’s strong figure.