Operation of China's auto industry in May 2022
2022/06/14

Operation of China's auto industry in May 2022

In May 2022, as my country's efficient co-ordination of epidemic prevention and control and economic and social development continued to show, the outbreak of new coronary pneumonia at multiple points in the country was effectively controlled, and the level of economic prosperity improved compared with April. Especially since late May, the central government has successively introduced a series of policies and measures to promote consumption and stabilize growth. The policies are highly inclusive and have played a good role in pushing the economy back to a normal track and ensuring that it operates within a reasonable range. At the same time, the local government responded positively and issued a variety of supporting policies to promote automobile consumption, which greatly activated the market. The joint boost of central and local policies has played a significant role in boosting automobile consumption. In addition, through the hard work of the automobile industry, the pace of resumption of work and production has been significantly accelerated, and the supply chain of the automobile industry chain has been gradually smoothed.

1. The year-on-year decline in automobile production and sales narrowed significantly

In May, the production and sales of automobiles reached 1.926 million and 1.862 million respectively, a month-on-month increase of 59.7% and 57.6% respectively, a year-on-year decrease of 5.7% and 12.6% respectively. From January to May, the production and sales of automobiles reached 9.618 million and 9.555 million respectively, a year-on-year decrease of 9.6% and 12.2% respectively. As of now, except for a small number of