China Passenger-Vehicle Sales Plunge 23.2% to 1.6 Million as NEV Exports Jump 150%
Updated
Updated · The Autopian · Jul 8
China Passenger-Vehicle Sales Plunge 23.2% to 1.6 Million as NEV Exports Jump 150%
3 articles · Updated · The Autopian · Jul 8
Summary
1.6 million passenger vehicles were sold at retail in China, down 23.2% from a year earlier, marking a deeper slide than the prior month’s 21% drop.
New-energy vehicle sales fell 9% year on year, even though EVs and plug-in hybrids still made up more than 60% of the market for a third straight month.
499,000 new-energy vehicles were exported, up more than 150%, as automakers pushed excess output abroad to offset the domestic slump.
BYD’s total shipments still rose 5.5% because exports nearly doubled, underscoring how overseas demand is cushioning China’s overcapacity problem.
The figures add to signs of weak consumer sentiment in China’s EV market and point to a harsher shakeout among domestic brands as the export drive intensifies.