China's domestic car demand under pressure, association exec says

Business Recorder

China's domestic car demand under pressure, association exec says

BEIJING: China’s domestic car demand has declined more sharply than expected at the ‌start of the year and will likely remain under heavy pressure throughout 2026, an auto association executive said on Wednesday. “Stabilizing ⁠domestic demand this year should be regarded as a very important task for the automotive industry,” said Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers (CAAM). China’s total vehicle sales dropped 2.1% ‌in ⁠May from a year earlier, while sales at home slid 20.4% year on year, CAAM data showed ⁠on Wednesday. China’s auto industry is unlikely to return to ‘golden era,’ NIO CEO says Vehicle exports jumped 68.7% on year last month to remain as a ⁠key driver of the sector that has increasingly relied on ⁠overseas shipments to offset domestic weakness.

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