China’s April auto sales tumbled nearly 50% to hit ten-year low amid Covid-19 outbreaks, May sales expected to remain below normal level

THE WIRE - Up-to-the-minute news updates walk you through every trading day!

China's auto sales in April hit a ten-year low for the same period and new energy vehicle sales plunged by nearly 40% from the previous month due to the impact of the recent Covid-19 outbreaks.

China sold 1.18 million units of cars in April, sliding 47.6% from a year earlier and marking the lowest level in nearly ten years for the month, according to data released by the China Association . . .