Chinese carmaker SAIC Motor reported a sharp sales decline in the first five months of 2019, of close to 17% to 2.47m units, according to a company statement filed with the Shanghai Stock Exchange.
The overall vehicle market in China declined by 16.4% to 1.913m units in May and by just under 13% to 10.3m units year to date, as consumer and business confidence continued to weaken as a result of the trade war with the US and growing economic uncertainty.
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SAIC Motor reported a 9.3% sales decline at its SAIC Volkswagen joint venture in the five-month period while SAIC-GM saw its sales fall by 15.1% and Shanghai GM Wuling’s sales were down by 27.9%.
The group reported an even sharper decline in vehicle output in this period, of 21.6% to 2.39m units.
Other automakers also reported declining sales in the first five months of the year, including Geely group which saw its sales fall by 12% to 560,805 units and GAC Group with a 3.2% decline to 810,590 units.
Nissan’s sales were down by just 0.4% at 587,197 units in this period, while Honda’s sales increased by 19.1% to 597,027 units.
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By GlobalDataSee also: Chinese vehicle market plummets 16% in May
