China Auto Sales Rise on Steeper Discounts to Pare Inventory
- Passenger-vehicle sales rise 1.2% to 1.78 million units in May
- Compact SUVs, small sedans saw bigger price cuts: Ways
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China’s passenger-vehicle sales rebounded last month as automakers and dealers offered steeper discounts on old models to make room for new offerings amid intensifying competition.
Retail sales of cars, sport utility vehicles and multipurpose vehicles rose 1.2 percent to 1.78 million units in May, after declining in April, data released by China Passenger Car Association on Thursday show. For the first five months, sales slipped 0.9 percent.