Reported 2 months ago
In July, electric vehicles (EVs) and plug-in hybrids accounted for over half of all car sales in China, reflecting a significant advancement in the country's adoption of new energy vehicles (NEVs). Data shows NEVs made up 50.7% of car sales, a notable increase from just 7% three years ago. This growth contrasts sharply with the U.S. market, where electric and hybrid vehicles represented only 18% of sales in early 2024. Despite the strong performance of NEVs, overall vehicle sales in China fell 3.1%, prompting state support measures to stimulate consumer confidence amid economic challenges.
Source: YAHOO