China Association of Automobile Manufacturers Wholesale sales of new energy vehicles in July reached 737,000 units, a year-on-year increase of 307%

In July, China's new energy vehicle wholesale sales reached 737,000 units, a 307% YoY increase

【Phoneauto News】On August 8th, the China Association of Automobile Manufacturers released the national passenger car market data for July. The data shows that the retail sales of passenger cars in July reached 1.775 million units, a year-on-year decrease of 2.3% and a month-on-month decrease of 6.3%. The retail sales in July reached a new historical high, showing a strong trend. The cumulative retail sales of passenger cars this year reached 11.299 million units, a year-on-year increase of 1.9%.

Among them, the wholesale sales of new energy passenger cars in July reached 737,000 units, a year-on-year increase of 30.7% and a month-on-month decrease of 3.1%. The cumulative wholesale sales from January to July reached 4.279 million units, a year-on-year increase of 41.2%. The retail sales of new energy vehicles in July reached 641,000 units, a year-on-year increase of 31.9% and a month-on-month decrease of 3.6%. The cumulative retail sales this year reached 3.725 million units, a year-on-year increase of 36.3%.

In terms of exports, the export of passenger cars (including complete vehicles and CKD) in July reached 310,000 units, a year-on-year increase of 63% and a month-on-month increase of 4%. From January to July, the export of passenger cars reached 1.99 million units, a year-on-year increase of 81%. New energy vehicles accounted for 28% of the total export volume in July. With the improvement of export capacity, the export of domestic brands reached 248,000 units in July, a year-on-year increase of 56%, and a month-on-month stability; joint ventures and luxury brands exported 60,000 units, a year-on-year increase of 90%.

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Cui Dongshu, Secretary General of the China Association of Automobile Manufacturers, stated in an article that customs data shows that China exported 2.34 million vehicles in the first half of 2023, and it should be hopeful to exceed 5 million for the whole year under normal circumstances. He expressed that there is a large space for the export of China’s new energy vehicles, as Europe currently has a relatively high demand for cars and there are also some policy supports, which brings great opportunities for the export of China’s new energy vehicles.

According to the data released by the China Association of Automobile Manufacturers and the Japan Automobile Manufacturers Association, China exported 2.341 million vehicles in the first half of this year, surpassing Japan’s automobile export volume of 2.02 million vehicles during the same period.

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