*Global Autos & Auto Parts: May China auto sales deteriorate
+1.2% growth in May (+6.4% Y/Y YTD): Passenger vehicle (PV) wholesales (including minibus) in China were 1.6mn in May 2015, +1% y/y, decelerating from 4% y/y in April and 9% in March. The MSRP cut from foreign OEMs in April and May (VW/GM) did not seem to lead to improving sales. The growth deceleration was driven by an 11% y/y decline in sedan sales offset by strength in SUV and MPV (+43% y/y, +9% y/y, respectively). Sales growth in premium segments (Audi, BMW and Mercedes) in May slowed to 2% y/y from 5% in April. Sales of domestic brands (Great Wall, Geely, BYD, Chery and Changan combined) rose 11% y/y in May, continuing to outpace the overall market due to their stronger position in low-priced SUVs, but also decelerated from +19% y/y in 4M15. Their market share increased 1.7ppts y/y to 19.0% from 17.3% in May 2014.