China's passenger car sector reports steady growth in May

BEIJING - China's passenger car sector recorded a double-digit growth in retail sales in May as the country's policies to boost consumption continued to take effect, the China Passenger Car Association (CPCA) said on Monday.

Last month, retail sales of passenger cars in China grew by 13.3 percent year-on-year to exceed 1.93 million units, data from the CPCA shows.

China launched a new round of its consumer goods trade-in program last year to boost spending, offering subsidies for trading in automobiles, home appliances, and home decorations. The scope of the program was further expanded earlier this year.

In the first five months of this year, the program has driven the sale of 4.12 million new vehicles, according to the Ministry of Commerce.

Last month, China produced nearly 1.17 million new energy passenger vehicles, with retail sales exceeding 1.02 million units, representing year-on-year increases of 30.2 percent and 28.2 percent, respectively.

In the first five months of the year, retail sales of passenger cars exceeded 8.81 million units, increasing 9.1 percent year-on-year, according to the CPCA data.