The China Association of Automobile Manufacturers (CAAM) released automobile production and sales data for July yesterday. The data shows that in July, the production and sales of new energy vehicles (NEVs) reached 1.243 million units and 1.262 million units respectively, up 26.3% and 27.4% year-on-year. The sales volume of new energy vehicles accounted for 48.7% of the total sales of new vehicles.
From January to July, the production and sales of new energy vehicles reached 8.232 million units and 8.22 million units respectively, up 39.2% and 38.5% year-on-year. The sales volume of new energy vehicles accounted for 45% of the total sales of new vehicles.
In terms of the overall market, in July, China's automobile production and sales (including new energy vehicles and fuel vehicles) reached 2.591 million units and 2.593 million units respectively, down 7.3% and 10.7% month-on-month, and up 13.3% and 14.7% year-on-year.
According to the data, from January to July, automobile production and sales reached 18.235 million units and 18.269 million units respectively, up 12.7% and 12% year-on-year. The growth rates of production and sales expanded by 0.2 and 0.6 percentage points respectively compared with the first six months.
(Reprinted from China Grid https://news.eccn.com)