As we discussed in Commodore Research's most recent Weekly China Report, July saw a total of 2.59 million vehicles sold in China (and also 575,000 Chinese-made vehicles exported). Of the 2.59 million vehicles, 981,000 were gas engine vehicles, which marked a year-on-year rise of 9%. Gas-engine vehicle sales in China have now grown on a year-on-year basis for two straight months. Previously, they had contracted on a year-on-year basis in fifteen of the prior sixteen months.
Of the 575,000 Chinese-made vehicles exported last month, 225,000 were electric vehicles (NEVs). This has marked a year-on-year increase of 125% and has set another record. China's NEV exports have now set a record in five of the last seven months.
