In August, the sales share of new energy vehicles (electric and hybrid cars) in China reached 60.6%, marking the second consecutive month above 60%.
According to data released by the China Association of Automobile Manufacturers, total vehicle sales in China for August were 2.71 million, a 5.1% decrease from the previous year. Of these, new energy vehicle sales amounted to 1.64 million, representing a 17.8% increase year-on-year. The share of new energy vehicles in total new car sales was 60.6%. Cumulatively, vehicle sales from January to August totaled 20.31 million, down 3.8%, with the share of new energy vehicles at 52.4%.
The association stated, "The sales share of new energy vehicles has exceeded 60% for two consecutive months, setting a new monthly record, while the cumulative monthly sales share has surpassed the 50% milestone for over two months, solidifying the dominant position of new energy vehicles."
In August, China exported 1.01 million vehicles, a 65.3% increase from the previous year. Cumulatively, vehicle exports from January to August reached 7.15 million, up 66.7%. New energy vehicle exports in August were 520,000, a 130% increase year-on-year, while internal combustion engine vehicle exports were 480,000, a 25% rise. Cumulatively, new energy vehicle exports totaled 3.43 million, up 120% from the same period last year, while internal combustion engine vehicle exports reached 3.71 million, a 34.7% increase.
The association noted, "China's vehicle exports have exceeded 1 million units for three consecutive months, stabilizing the industry as a whole. With oil prices remaining high this year, demand for Chinese new energy vehicles continues to rise." However, it also pointed out that the domestic market remains sluggish, with monthly domestic sales declining by over 20% year-on-year for five consecutive months.
* This article has been translated by AI.
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