China's NEV share of new vehicle sales hits record high in August

Beijing [China], September 11: The dominant position of new energy vehicles (NEVs) in China's auto market was further consolidated in August, with NEV sales accounting for a record 60.6 percent of the monthly new car sales, industry data showed.
In August, NEV output and sales reached over 1.65 million and 1.64 million units, respectively, both up nearly 20% year on year, according to data from the China Association of Automobile Manufacturers (CAAM).
Overall auto output and sales in August stood at 2.68 million and 2.71 million units, respectively. CAAM Deputy Secretary-General Chen Shihua attributed the month-on-month growth in auto production and sales mainly to the sustained auto consumption subsidies.
China's vehicle exports continued to grow rapidly, with monthly export volume exceeding 1 million units for three consecutive months, Xinhua News Agency reported, citing CAAM figures.
In August, vehicle exports reached 1.01 million units, up 65.3% year on year. Notably, NEV exports of the month rose 1.3-fold to 526,000 units.
In the first eight months, auto exports totaled 7.15 million units, up 66.7% year on year, including 3.44 million NEVs, a 1.2-fold increase.
NEVs have accounted for more than 50% of China's total auto exports for three consecutive months, which means one out of every two exported vehicles is an NEV.
This fundamental change in export structure shows that China's auto exports are shifting toward an NEV-led model and opening up global markets through the electrification technology route, Chen said.
Source: Emirates News Agency