NEVs hit third consecutive month of >50% domestic sales share
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May saw strong domestic new energy vehicle (NEV) sales and – despite rising dealership inventories – overall market optimism.
According to CPCA's latest data release, in May:
NEV sales rose 27.0% y/y (and 12.8% m/m)
ICE sales rose a paltry 0.5% y/y (though 7.2% m/m)
Altogether, domestic auto sales...