China's passenger vehicle stock at 3.48 million in May 2026, down 60,000 month-on-month

Cui Dongshu, secretary general of the China Passenger Car Association, reported that at the end of May 2026, the national passenger vehicle inventory was 3.48 million units, a decrease of 60,000 units from the previous month and an increase of 30,000 units compared to May 2025. Manufacturer inventory accounted for 30.3%, relatively high. The optimism index for May was 27%, dropping to 26% post-month satisfaction, mainly due to the impact of high oil prices, with the June market optimism falling to 31%, a historical low.