The Passenger Car Association announced the analysis of the national passenger car market in May 2022, showing that the retail sales of the passenger car market in May reached 1.354 million units, a year-on-year decrease of 16.9% and a month-on-month increase of 29.7%. highest value. The cumulative retail sales from January to May was 7.315 million units, a year-on-year decrease of 1.07 million units, a year-on-year decrease of 12.8%, of which the year-on-year decrease of 860,000 units from April to May had a greater impact.

In addition, the wholesale sales volume of manufacturers in May was 1.591 million units, a year-on-year decrease of 1.3% and a month-on-month increase of 67.8%. Due to the constraints of production, the performance of some car companies was significantly differentiated. The wholesale sales of manufacturers from January to May reached 7.981 million units, a year-on-year decrease of 3.8%.

In terms of new energy, the wholesale sales of new energy passenger vehicles in May reached 421,000 units, a year-on-year increase of 111.5% and a month-on-month increase of 49.8%. The development of new energy was also affected by the current epidemic, but the month-on-month improvement exceeded expectations. From January to May, 1.892 million new energy passenger vehicles were wholesaled, a year-on-year increase of 117.4%. In May, the retail sales of new energy passenger vehicles reached 360,000 units, a year-on-year increase of 91.2% and a month-on-month increase of 26.9%, forming a "W-shaped" trend from January to May. From January to May, the domestic retail sales of new energy passenger vehicles was 1.712 million, a year-on-year increase of 119.5%.

It is worth mentioning that the shortage of imported parts and components affected by the epidemic has improved, and domestic suppliers of parts and components in the Yangtze River Delta region have gradually resumed basic supply, which has promoted the rapid recovery of production nationwide in May.

The Federation of Passenger Transport Associations also pointed out that from the supply side, the supply will improve significantly in June. Shanghai is the core hub of the country's automobile manufacturing and is the core factor restricting the recovery of automobile production. Due to the real unblocking of Shanghai in early June, combined with the special domestic measures to relieve difficulties in logistics and transportation, the national automobile production capacity is expected to be fully released.

From the perspective of consumption, the policy of reducing and exempting purchase tax will be implemented from June 1st. At the same time, the superposition of national and local consumption promotion policies will be concentrated in June. The effect of the start-up period of consumption promotion policy is strong. Delayed consumer demand should have a certain release, which is conducive to the increase in retail sales in June.