China's NEV Sales Fall 4.7% in July; First Drop in Over Two Years
Xu Wei
/SOURCE : yicai
China's NEV Sales Fall 4.7% in July; First Drop in Over Two Years

(Yicai Global) Aug. 13 -- China's new energy vehicle sales decreased 4.7 percent from the previous year to 80,000 units last month, the first decline in more than two years, as a car sales slowdown finally reached the subcategory of NEVs too.

The output of NEVs fell 6.9 percent to 80,400 units, the China Association of Automobile Manufacturers said in a statement today, adding that the reason behind the sector's downturn is subsidy reductions.

From January to July, China's total auto sales fell 11.4 percent to 14.1 million units. Output declined 13.5 percent to 13.9 million vehicles. NEV sales rose 40.9 percent to 699,000 cars while production grew almost as fast to 701,000 units during the same period. 

Editor: Emmi Laine 

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