According to the data released by the China Association of Automobile Manufacturers, in May 2024, automobile exports were 481,000, down 4.4% from the previous month and up 23.9% year-on-year. From January to May of this year, automobile exports were 2.308 million, an increase of 31.3% year-on-year.

Recently, the automobile market has been bullish. The China Association of Automobile Manufacturers pointed out that in May, the overall output of the mainland economy continued to expand, and corporate production and operation activities maintained a recovering development trend. Automobile sales achieved a slight increase year-on-year and month-on-month, and the production and sales of new energy vehicles and automobile exports continued to grow rapidly. However, the growth of domestic demand in the automobile market is relatively slow, industry competition is further intensifying, and coupled with the still severe international trade protectionism, the overall operation of the automobile industry still faces considerable pressure and requires effective measures to ensure stable development of the industry. (ta/w)

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