China Passenger Car Association (CPCA) May data:
- vehicle sales +11% m/m (prior -9.4%)
- but -1.9% y/y (prior -5.7%)
Reasons for the m/m climb cited Government subsidies for replacing old cars with new ones:
- 7,000 yuan for updating fuel cars
- 10,000 yuan for new energy vehicles (NEVs)
Much more detail here if you are interested.
Old pic, China is heating up for summer
This article was written by Eamonn Sheridan at www.forexlive.com.
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