Chart of the Week：China’s Car Sales Grow as EV-Makers Slash Prices Again

Sales of NEVs jumped 40% in the first five months to some 4.5 million units, topping fossil fuel vehicle sales

China’s car sales saw double-digit growth in the first five months of this year, driven by strong demand for new-energy vehicles (NEVs), as a new wave of price cuts hit the market.

During the period between January and May, sales of passenger cars in China grew 13.9% year-on-year to about 8.92 million units, according to data released by the China Association of Automobile Manufacturers (CAAM) Wednesday.

Sales of passenger NEVs jumped 40% from the same period last year to 4.47 million, overtaking sales of fossil-fuel powered passenger cars, which