China's new energy vehicle retail sales rise to 878,000 units in July, penetration rate exceeds 50 per cent for the first time

In July, the retail penetration of new energy vehicles in China reached a record 51.1 per cent, breaking the 50 per cent mark for the first time, meaning that for the first time, new energy vehicles overtook traditional petrol vehicles in new car sales.

Retail sales of new energy vehicles (NEVs) in China continued to climb in July to near record levels, with NEV penetration surpassing the 50 per cent mark for the first time, meaning that NEVs outnumbered conventional petrol vehicles among new cars sold in the country.

Figures released today by the CPCA show that China's passenger car NEV retail sales reached 878,000 units in July, the second highest on record after December 2023's 947,347 units.

In July, the wholesale penetration rate of new energy vehicles in China was 62.6 per cent for local brands, 37.2 per cent for luxury brands and 8.1 per cent for mainstream joint venture brands.

China exported 92,000 passenger new energy vehicles in July, up 1.3 per cent year-on-year and 18.2 per cent from June, accounting for 24.5 per cent of passenger car exports.

According to data from the China Passenger Vehicle Association, pure electric vehicles accounted for 72.7 per cent of new energy vehicle exports in July, with exports of A0- and A00-class pure electric vehicles accounting for 19 per cent of Chinese brand new energy vehicle exports.

（USD$1=CNY￥7.17）