BEIJING/SHANGHAI :Passenger vehicle sales in China rose 7.3 per cent in May from a month earlier, industry data showed on Thursday, as the government extended tax incentives to shore up demand amid a flagging economic recovery. Sales totalled 1.76 million vehicles in May, the China Passenger Car Association (CPCA
) said. For January-May, sales were up 4 per cent at 7.74 million cars versus the same period a year earlier .
Tesla sold 77,695 China-made vehicles in May, CPCA data showed earlier in the week. The industry body didn't offer a breakdown of export data by auto brands. Additionally, a raft of new products and low-priced new models have lately been rolled out, attracting buyers back to the market, Cui Dongshu, the association's secretary general, told a press briefing.Falling NEV prices due to discounting and tumbling battery costs have yet to be reversed by Tesla's shift toward raising prices in countries including China.
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