China: Automobile sales drop 5% m-o-m in May’21

China’s automobile sales were registered at 2.13 million units in May’21, down 5% m-o-m, according to the China Association of Automobile Manufacturers (CAAM). Global chip shortage, surging raw material prices and seasonal factors affected the country’s automobile sales last month. Notably, China’s auto sales dropped after 13 consecutive months of gains since Apr’20, as per reports.