Preface
Retail sales of new energy passenger vehicles, which include electric and plug-in hybrids, surged 36.9% from a year ago and rose 2.5% compared to June, according to data from the China Passenger Car Association (CPCA).
July NEV sales accounted for 51.1% of the total vehicle sales, marking a record monthly high. This was mainly ascribed to China's edge in EV and hybrid plug-in technology, as well as more aggressive incentives under a government program to encourage the replacement of cars.
In this article, Infoturbo provides an overview of July NEV sales in the Chinese auto market. Take a look!
Contents
OVERVIEW I: NEV SALES & PRODUCTION SURGE ON AN ANNUAL BASIS IN JULY AND FIRST SEVEN MONTHS
In July, China's passenger NEV sales continued their accelerated YoY growth compared to the previous month, while NEV production experienced a slowdown. From January to July, both NEV production and retail sales maintained double-digit growth. Exports of China's passenger NEVs in July rose 1.3% YoY and 18.2% MoM to 92,000 units, accounting for 24.5% of the country's total passenger car exports, down 5.0 percentage points from the same period last year and 0.3 percentage points from the previous month.
In July, sales of both battery electric vehicles (BEVs) and plug-in hybrid EVs (PHEVs) registered faster growth compared to the previous year. From January to July, BEVs experienced a slowdown in growth rate, while PHEVs welcomed an increase. China's passenger NEV penetration rate at retail hit 51.1% in July, marking an increase of 15 percentage points from a year earlier and a 2.7 percentage point rise over the previous month. Notably, the penetration rate of Chinese NEVs specifically reached a remarkable 73.9%, up 2.7 percentage points from June.
BYD remained the top seller, expanding its market share to 35.5%;
Li Auto edged into the top three, while Leapmotor rejoined the list;
GAC AION was the only carmaker to suffer a sales decline.
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