China vehicle sales fall 12% in July

BEIJING: Vehicle sales in China fell 11.9% in July from the corresponding month a year earlier, industry data showed on Wednesday.

Overall sales in the world's biggest auto market stood at 1.86 million vehicles in July, showed data from the China Association of Automobile Manufacturers (CAAM).

Sales of new energy vehicles (NEVs) including battery-powered electric vehicles, plug-in petrol-electric hybrids, and hydrogen fuel-cell vehicles maintained their strong momentum, jumping 164.4%, with 271,000 units sold last month.

NEV makers such as Nio Inc, Xpeng Inc and BYD Co Ltd are expanding manufacturing capacity in China, encouraged by the government's promotion of greener vehicles to cut pollution.

U.S. electric vehicle maker Tesla Inc sold 8,621 China-manufactured electric cars in China and exported 24,347 cars last month. - Reuters

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

CAAM , Vehicle sales , NEV , Tesla


Next In Business News

US to lift restrictions Nov 8 for vaccinated foreign travelers
China aluminium firm Zhongwang flags 'severe difficulties' at subsidiaries
Toyota cuts November output, after supplies slowed from Malaysia and Vietnam
Oil prices rise to three-year high on back of supply deficit forecasts
World stocks notch best day in 5 months
DNB gets Malaysia ready for 5G
Telcos post-5G rollout
Short Position - Listed companies, healthcare valuations, demographic dividend
A perfect storm driving energy prices
CPO prices expected to be lower in 2022, say market analysts

Others Also Read