4.9% increase in YTD automotive market: AMIC

A 4.9% surge was recorded in automotive market volume since the beginning of the year to May 2015 compared to the same period last year, the Automotive Marketing Information Council (AMIC) revealed in its latest report.

The year-to-date (YTD) sales volume totalled 114,087.

Passenger cars sold amounted to 76,771 cars, marking a 3% surge compared to the same period last year. Bus sales grew by 18%, increasing from 12,005 buses to 14,199 buses. Truck sales also grew by 5%.

The market volume recorded a 14.4% decline between May 2014 and May 2015 however, decreasing from 23,566 units to 20,152 units.

The largest drop was recorded in the passenger cars market, plummeting to 12,982 cars compared to 16,623 cars sold the corresponding month last year. Truck sales inched down by 3%, while buses grew by 14%.

Regarding sales in May 2015, the report stated that they were11.68% lower than the 2015 YTD average, and 14.49% lower than the sales in May 2014.