China's May passenger car sales are seen at 1.73 million units

China's May passenger car sales are seen at 1.73 million units, up 27.7% y/y and 6.6% m/m; NEV retail sales in May are expected to be 580,000units, up 60.9% y/y and 10.5% m/m: auto industry body CPCA
CPCA: Year-on-year growth of passenger car sales in May is due to low base caused by epidemic and supply chain damage in same period last year.
CPCA: As negative impact of epidemic continues to fade, contact and travel consumption continues to recover.