China’s NEV sales drop 15.5% YoY in Aug

SHANGHAI, Sep 10 (SMM) – China’s wholesale new energy passenger vehicle sales dropped 15.5% from a year ago to 71,000 units last month, showed an industry association survey, as selling costs sharply grew after the government scaled back its subsidies at the end of June.

The China Passenger Car Association (CPCA) said on Monday that wholesale volumes of new energy passenger vehicles in China rose 6% from a month earlier in August.

Sales of pure electric vehicles climbed 17% from July and unchanged from August 2018, while sales of hybrid ones declined 17% month on month and 46% year on year.

For the first eight months of 2019, wholesale new energy passenger vehicle sales in China reached 714,000 units, up 41.7% from the same period last year.