Recently, the China Association of Automobile Manufacturers (hereinafter referred to as "CAAM") released the latest automobile market data. In May, domestic automobile production and sales completed 2.372 and 2.417 million vehicles, respectively, with a year-on-year increase of 1.7% and 1.5%. In the first five months of this year, domestic automobile production and sales completed a cumulative 11.384 and 11.496 million vehicles, respectively, with a year-on-year increase of 6.5% and 8.3%. Chen Shihua, Deputy Secretary-General of the China Association of Automobile Manufacturers, said that in May, the production and operation activities of enterprises maintained a recovery and development trend. In that month, automobile sales achieved a slight increase in both month-on-month and year-on-year, and the production and sales of new energy vehicles and automobile exports continued to grow rapidly. China's own brands also continue to perform well. At the same time, Chen Shihua stated that the current growth of China's automotive market demand is relatively slow, and industry competition is intensifying. The overall operation of the automotive industry still faces considerable pressure. "We look forward to relevant bullish policies accelerating implementation, continuously boosting consumer potential, and promoting the stable development of the industry." (Securities Daily)