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China NEV Retail at 274,000 in Aug 1-11, up 25% From Same Period Last Month
Cui Dongshu: the seasonal rhythm of electric vehicles is weakening and the "off-season not light" is becoming more and more obvious.
After the decline in market share of traditional gasoline vehicles due to the impact of electric vehicles, the seasonal rhythm of the new energy vehicle market has weakened due to the decrease in the size of the first-time buyer group, changes in the purchasing population, and changes in the new energy vehicle channels. The characteristic of "not being light in the off-season" is indeed becoming more and more obvious.
Cui Dongshu: The "old-for-new" policy is gradually effective, and the performance of the new energy vehicle market in July exceeds expectations.
Cui Dongshu said that recently, the country's "scrapping old cars for new" passenger vehicle renewal policy has gradually taken effect, and corresponding policy measures have been introduced and followed up in various places. The effect of releasing consumption potential under the policy promotion is very good. Therefore, in July, the performance of electric vehicles was better than that of passenger vehicle manufacturers' predicted teams.
In July, the sales of electric vehicles reached 0.879 million units, an increase of 37% year-on-year, according to the Passenger Car Association.
From July 1st to 31st, the retail sales of new energy passenger vehicles reached 0.879 million, an increase of 37% compared to the same period last year and an increase of 3% compared to the same period last month. Cumulative retail sales from the beginning of the year reached 4.991 million, a year-on-year increase of 34%.
By January to June 2024, China will account for 65% of the world's electric vehicle market share.
In the first six months of 2024, China's export of electric vehicles performed well in the South American and Southeast Asian markets, which is a result of China's strong industry chain and the double growth of domestic market and export.
China Jul NEV Wholesale at 950,000, Down 3% From Jun, CPCA Estimates Show
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