Sales of “vehicles to new energy” (the new-energy vehicle, or NEV) in China in July has decreased in annual terms by 4.7%. This is the first decline in sales over the past two years. For comparison: in June sales grew 80%.
In July, China sold 80 000 units of NEV. To the category of NEV in China include domestically produced battery electric vehicles, hybrid electric vehicles and cars running on fuel cells.
The main reason for the decline in sales is NEV began last month, the reduction of subsidies to stimulate sales of NEV.
Total vehicle sales in the world’s largest automobile market in July fell by 4.3 percent, falling for the 13th month in a row. The data published by the China Association of automobile manufacturers (CAAM).
In June, the market declined by 9.6% in may to 16.4%. For the first time since the 1990s, years sales began to fall last year amid slowing economic growth and a trade war with the United States.