According to data from the China Passenger Car Association In July, electric cars and plug-in hybrids exceeded 50 percent of all vehicle sales in China. At the same time, the total number of cars sold decreased.
Sales of electric vehicles and plug-in hybrids, which are classified as new-energy vehicles in China, increased to 879 thousand units, which is 50.8 percent of total sales in July.Total new vehicle sales fell 2 percent to 1.73 million in July.
Share of electric cars in total sales in China exceeded 50% in July / Bloomberg
Electric cars are becoming increasingly popular in China
China is the world’s largest car market. But overall economic growth has slowed. Despite this In the Middle Kingdom, the electric vehicle industry continues to enjoy strong momentumeven as demand for electric cars falls in the rest of the world.
Wang Chuanfu, CEO of BYD, the world’s largest maker of electric and hybrid vehicles, predicted in March that the country would soon surpass the 50% threshold. The BYD executive said this as new-energy vehicles approached or exceeded that level on a weekly basis.
Overall car sales fell
The decline in overall car sales was mainly due to a decline in the second half of the month as some automakers suspended production for the annual summer break.
According to the association, the price war in the electric car sector also contributed to the decline in sales, because some manufacturers have reduced discountswhen the price war in the industry subsided.
Some BMW dealers raised prices, prompting Audi and Mercedes-Benz to consider following suit, local media reported. Meanwhile, BYD continued to slash prices, cutting the Leopard 5 model under its premium Fang Cheng Bao brand by up to 17 percent.
