China's August NEV sales reach 1.643 million as market share sets 60.6% record
New energy vehicles took a record 60.6% of China's new-vehicle sales in August, with exports of them surging even as domestic demand slipped.
- 1.643 million units
- 60.6%
- 526,000 units
- 1.01 million units
What Happened
China's new energy vehicle output climbed to 1.653 million units in August, a gain of 18.9 percent from a year earlier, according to the industry's monthly tally. Deliveries of such vehicles rose 17.8 percent to 1.643 million. NEVs made up 60.6 percent of everything sold during the month, the highest share on record, and the segment was the strongest part of the overall market.
60.6%percent
A record high, based on CAAM's August figures.
- 526,000 units, up about 130% from a year earlier
- 1.118 million units, down 4.6% from a year earlier
Overall vehicle exports from China hit 1.01 million units in August, 3.2 percent below July's level yet 65.3 percent higher than a year earlier. It was the third month in a row above the one-million mark. Shipments abroad have become a major growth engine for the wider market.
Why this matters
NEVs now account for a record majority of sales in the world's largest car market, a shift that affects carmakers, suppliers and battery producers tied to China. August also showed two opposite forces at work: exports of these vehicles jumped about 130 percent while sales inside the country fell 4.6 percent.
Terms in This Story
- NEV
- New energy vehicle, an umbrella category covering battery-electric, plug-in hybrid and fuel-cell cars.
- CAAM
- The China Association of Automobile Manufacturers, the industry body that compiles and publishes the country's monthly vehicle production and sales figures.
- year over year
- A comparison between one period and the same period twelve months earlier, used to strip out seasonal swings.
A brief summary; details can be imperfect — always verify against the original source.