China auto sales climb 13% in May; foreign brands gain share
Passenger-vehicle sales in China rose 13 percent last month as foreign carmakers continued to gain share from local brands.
Retail deliveries of cars, multipurpose vehicles and SUVs climbed to 1.5 million units in May, according to the China Passenger Car Association.
Foreign automakers are stepping up investment in China to gain market share, putting pressure on local carmakers even as more cities consider restricting the number of new vehicles to contain worsening pollution and traffic.
"China's car demand has been rising steadily this year with foreign brands leading the growth," said Harry Chen, an automotive analyst with Guotai Junan Securities Co. in Shenzhen.
"Both local and foreign automakers are trying to gain more market share as consumers advance their purchases on concern their city may cap the growth in vehicle ownership."
General Motors, which introduced the Chevrolet Aveo family car in China this month, boosted sales 9 percent in May. Among its brands, Buick sales climbed 15 percent, Chevrolet deliveries rose 13 percent and Cadillac sales increased 59 percent.
Foreign automakers are stepping up investment in China to gain market share, putting pressure on local carmakers even as more cities consider restricting the number of new vehicles to contain worsening pollution and traffic.
"China's car demand has been rising steadily this year with foreign brands leading the growth," said Harry Chen, an automotive analyst with Guotai Junan Securities Co. in Shenzhen.
"Both local and foreign automakers are trying to gain more market share as consumers advance their purchases on concern their city may cap the growth in vehicle ownership."
General Motors, which introduced the Chevrolet Aveo family car in China this month, boosted sales 9 percent in May. Among its brands, Buick sales climbed 15 percent, Chevrolet deliveries rose 13 percent and Cadillac sales increased 59 percent.
