The latest data! New energy vehicle sales surpass fuel vehicles for the first time!
2024-08-11
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On August 8, the reporter learned from the Passenger Car Market Information Joint Branch of the China Automobile Dealers Association (hereinafter referred to as the "Passenger Car Market Branch") that the national passenger car market retailed 1.72 million vehicles in July, of which 840,000 were conventional fuel vehicles and 878,000 were new energy vehicles. The monthly retail sales of domestic new energy vehicles surpassed fuel vehicles for the first time.
Map by Pan Yue
The China Passenger Car Association said that the recent national policy of "trading old for new" for scrapped passenger cars has gradually taken effect, and corresponding policies and measures have been introduced in various regions, and the consumption potential driven by the policy has been released effectively. Therefore, the trend of new energy vehicles in July was better than the expectations of the passenger car manufacturers' forecasting team.
According to the data from the China Passenger Car Association, the new energy vehicle market retailed 878,000 vehicles in July, a year-on-year increase of 36.9% and a month-on-month increase of 2.8%. From January to July 2024, the retail sales volume reached 4.988 million vehicles, a year-on-year increase of 33.7%. In July, the domestic retail penetration rate of new energy vehicles was 51.1%, an increase of 15 percentage points from the penetration rate of 36.1% in the same period last year.
As for the reasons why the domestic new energy passenger car retail penetration rate exceeded 50%, the China Passenger Car Association analyzed that, on the one hand, China's manufacturing industry has been continuously improving and developing, which has brought about industrial chain advantages, including equipment manufacturing and parts industries such as batteries, motors, chips, etc., which have super advantages. On the other hand, driven by new quality productivity, Chinese auto companies are fully committed to developing new energy vehicles, driving China's automobile industry from big to strong. The guiding ideology of the open development of the passenger car industry has also promoted the entry of diversified companies such as Internet companies, smart consumer manufacturing companies, and international new energy vehicle companies, activating the industry's competition and innovation capabilities.
It is worth noting that in recent years, China's share of the world's new energy vehicles has continued to increase. According to the data from the China Passenger Car Association, China's global share of new energy passenger vehicles will exceed 63% in 2022, 64% in 2023, and 64.5% in January-June 2024. In the second quarter, China's global share of new energy passenger vehicles reached 67%. Among them, China's share of the world's plug-in hybrid passenger vehicles continued to strengthen, rising to 69% in 2023, 74% in the first half of 2024, and 78% in the second quarter. China has shown a super strong performance in the world's plug-in hybrid market.
Reporter: Yuan Xiaokang
Source: Economic Information Daily
