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China New Energy Vehicle Sales Drops in July

Auto News - Published on Wed, 14 Aug 2019

Image Source: https://www.reuters.com
China Association of Automobile Manufacturers data showed that sales of new energy vehicles in China fell 4.7% in July from a year earlier, the first drop in more than two years. NEV sales fell to 80,000 units last month in China, as compared with a growth of 80 per cent in NEV sales in June. Mr Chen Shihua, assistant secretary general at the CAAM, referring to China's move to cut NEV subsidies last month said that "The main reason for new energy vehicle sales decline in July is the switch of policies.”

CAAM had trimmed its forecast for a rise in NEV sales to 1.5 million, versus a previous forecast of 1.6 million.

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Posted By : Mohan Sharma on Wed, 14 Aug 2019
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