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Business & Finance

Luxury automakers outpace China's May passenger car sales recovery

  • Tesla Inc sold 11,065 Shanghai-made Model 3 electric sedans in May, up 205pc compared to April.
08 Jun 2020

SHANGHAI: China's premium and luxury passenger car retail sales jumped 28pc from a year earlier, the best performing sector as the industry, the China Passenger Car Association said, as the country gradually recovers from the coronavirus.

Overall passenger car sales in May rose 1.9pc from a year earlier to 1.61 million, the China Passenger Car Association (CPCA) said on Monday.

The association said during an online briefing that the retail sales growth beat expections and signalled a recovery in the passenger car market. However, it forecasts sales in June will fall, citing last year's strong figure.

Tesla Inc sold 11,065 Shanghai-made Model 3 electric sedans in May, up 205pc compared to April.

An executive at Jaguar Land Rover (JLR), owned by India's Tata Motors, said the firm expects sales of China's luxury car segment this year to be level with last year or see slight growth.

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