Demand in the leading light vehicle (LV) markets rose by 5.3% in May, the fourth successive monthly increase, taking the year-to-date increase to 4.6%. China accounted for 30% of the year-to-date (YTD) demand and for 1.9pts of the increase (excluding China, the YTD increase was 2.7%). The Chinese market has been boosted by a government subsidy scheme and manufacturer incentives, though some cities are recently reported to have withdrawn subsidies due to funding shortages.
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