China July New Energy Passenger Vehicle Sales up 46% year on year

According to data from the China Passenger Car Association, China new energy passenger vehicle sales  reached 43,000 units in July, up 46% year-on-year and 4% month-on-month. Over the first seven months of this year, volume rose to 201,000 units, increasing 34% from 150,000 in the first seven months of 2016.

Up to now, new energy passenger vehicle sales of 2017 has been presenting upward trend. During the first three months, volume showed an incremental monthly growth of 11,000 units and added to 27,600 units in March from 5,400 units in January. From April to July, growth slowed down and volume of July was only 2,000 units more than June.

Narrower Gap between PHEV sales and BEV sales

In July, the sales of new energy passenger vehicle presented structural growth. BEV sales reached 32,600 units with a 61% year-on-year growth, which accounted for 75.72% of the total volume. Meanwhile, the sales of PHEV achieved 14% year-on-year growth and reached 10,500 units, which is 24.28% of new energy passenger vehicle total sales.

In the last quarter of 2016, affected by the new regulations on ride-sharing services, PHEV sales had a poor performance. And in the first quarter of this year, PHEV only accounted for 17% of the total new energy passenger vehicle sales. From July on, sales of BYD and GAC Trumpchi have been increasing while Geely began to add PHEV models to its lineup, which all stimulated the growth of PHEV sales. Therefore, the gap between BEV sales and PHEV sales has been narrowed.

BYD Song: best-selling model

In the Top 10 new energy passenger models, there are two PHEV models, BYD Song and Roewe eRX5. BYD Song was the best-selling new energy passenger vehicle model in July.

Cui Dongshu, secretary-general of the CPCA, estimated that because part of Beijing new energy vehicle quotas will expire, August would see new energy passenger vehicle purchasing frenzy.