China automobile sales dipped to 2.204mn units in May, down by 2.1pc from April, while up barely by 0.5pc from a year ago. Passenger car sales rose by 6pc from the prior year while commercial vehicle sales declined by 8.8pc, according to estimates released by the China Association of Automobile Manufacturers (CAAM).
From January to May, cumulative sales of key automakers are estimated at 10.951mn, up by 37.6pc from the prior period with passenger car sales up by 40.2pc and commercial vehicle up by 31.5pc.
Auto sales in June are forecasted to dip ahead of traditional offseason and production cuts. The shortage of semiconductors has started impacting auto production in China, according to CAAM.
Also, heavy truck sales declined for the first time this year in May.