China’s NEV sales exceeded 1m in August
In August, the sales of new energy vehicles (NEV) in China exceeded 1m units for the first time since early 2024 – according to the data from the China Association of Automobile Manufacturers, TASS reports
Last month, 1.03m such vehicles were sold in China – 43 percent up against the same period a year earlier. Sales also grew by 17 percent compared to July. In total, over the first eight months, 6.02m NEVs were sold — an increase of 35 percent year-on-year. At the same time, sales of passenger cars with gasoline and diesel engines in China in August fell by 28 percent year-on-year and stood at about 870,000 pieces.
In recent years, the Chinese population has been actively switching to electric vehicles, the purchase of which is subsidised by the country’s government. About 80 percent of consumers are ready to switch to NEV, especially for small electric vehicles and plug-in hybrid electric vehicles of the basic level costing about 100,000 Yuan.
In 2023, total car sales in China made up 30.09m – an increase of 12 percent. The corresponding figure first exceeded the mark of 30m vehicles. As for production, last year it grew by 11.6 percent year-on-year and amounted to 30.16m vehicles.
