Caixin
Aug 08, 2024 05:10 AM
BUSINESS

EVs and Hybrids Exceed 50% of China Car Sales for First Time

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Overall new-vehicle sales dropped 2% to 1.73 million in July, according to preliminary figures released Wednesday by the China Passenger Car Association
Overall new-vehicle sales dropped 2% to 1.73 million in July, according to preliminary figures released Wednesday by the China Passenger Car Association

(Bloomberg) — For the first time more than half the vehicles sold in China during July were either electric vehicles (EVs) or plug-in hybrids, marking a milestone in the country’s auto market despite a fall in the overall number of cars sold.

Sales of electric and plug-in hybrid vehicles, which are counted under the category of new-energy vehicles in China, rose to 879,000 units, making up 50.8% of total sales in July.

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