Source:
https://scmp.com/business/companies/article/3087995/embattled-chinese-carmakers-reported-recovery-sales-may-not-out
Business/ Companies

Embattled Chinese carmakers reported recovery in sales in May, but not out of Covid-19 woods yet

  • Geely Automobile Holdings says its sales jumped 20 per cent from a year ago
  • Rebound buoyed by release of pent-up demand, rather than a turnaround: analyst
A Polestar 2 electric sedan is displayed at a shopping centre in Shanghai. The automobile sector has been boosted by supportive government policies aimed at the new energy vehicle segment. Photo: Reuters

China’s embattled automobiles sector saw a ray of hope in May, as key carmakers wooed customers and improved sales by offering discounts.

Geely Automobile Holdings reported strong sales last month. It said on the weekend that its sales jumped 20 per cent from a year ago to 108,822 units. Lynk, its premium car brand, saw sales jump 27 per cent to 12,950 units.