July New Energy Vehicle Sales Reach Approximately 870,000 Units... 36.9% Increase Year-on-Year
China's sales of new energy vehicles (electric, hydrogen, and hybrid cars) have surpassed gasoline cars for the first time.
According to the China Passenger Car Association (CPCA) on the 10th, retail sales of new energy vehicles last month reached approximately 870,000 units, a 36.9% increase compared to the same period last year.
On the other hand, gasoline car sales, which began to decline earlier this year, dropped by 26% to 840,000 units.
New energy vehicle sales exceeded market expectations, setting an all-time high and surpassing gasoline cars for the first time.
China's BYD and the U.S. Tesla led the sales of new energy vehicles.
Total passenger car sales in China in July were recorded at 1.72 million units, a 2.8% decrease compared to the same period last year.
China's passenger car exports in July increased by 26% to 553,000 units. In terms of export value, it nearly reached $10 billion (approximately 13.66 trillion KRW), a 14% increase.
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