Sales and production of new-energy vehicles in China grew in July both M-o-M and Y-o-Y

According to the latest update by Shanghai Metals Market, China’s market of new energy vehicles (NEVs) again saw a growth in July as both output and sales surged from a year ago.

In July, production of NEVs stood at 90,000 units, after increasing 53.6 per cent year-on-year and 5.5 per cent from the earlier month, as shown by the data from the China Association of Automobile Manufacturers (CAAM). Sales also rose 47.7 per cent year-on-year to stand at 84,000 units in July but inched down 0.9 per cent from June.

However, China’s overall vehicle production and sales saw a decline on both month-on-month and year-on-year in July.

Around 2.04 million unites of vehicles were produced China in the month of July, down 10.8 per cent from a month ago and 0.66 per cent from the corresponding period of the previous year. Sales, on the other hand, stood at 1.89 million units, 16.9 per cent lower from the month ago and 4 per cent from the same period of 2017.

Among this, passenger vehicle production and sales fell 10.6% and 15.2% on the month to stand at 1.73 million units and 1.59 million units, respectively. On a yearly basis, the figures dipped 1.9% and 5.3%. 

Separately, new-energy passenger vehicle sales in China recorded at 42,000 units in July, little changed from a month ago, according to data from the China Passenger Car Association (CPCA).

The total sales of passenger vehicles registered a fall of 4.6 per cent month-on-month but grew 5.5 per cent year-on-year to eventually hover at 1.7 million units in July.

Included in the passenger vehicle category are sedans, sport utility vehicles (SUV), multi-purpose vehicles (MPV) and mini-vans.