The CAAM said China's NEV sales are expected to reach 5.5 million units in 2022, up 56 percent year-on-year.
China's new energy vehicle (NEV) sales reached a record 596,000 units in June, surpassing last December's 531,000 units, according to data released today by the China Association of Automobile Manufacturers (CAAM).
That's up 133 percent from 256,000 units a year ago and up 33 percent from 447,000 units in May.
China's NEV production in June was 590,000 units, also a record high, the CAAM said, adding that the market share of NEVs reached 23.8 percent in June.
Production and sales of new energy passenger vehicles in June were 563,000 and 569,000 units, up 140 percent and 130 percent year-on-year, respectively. The production and sales of new energy commercial vehicles were 27,000 and 28,000 respectively, an increase of 85.3 percent and 88.4 percent year-on-year.
Production and sales of pure electric vehicles in June were 466,000 and 476,000, up 120 percent year-on-year, according to the CAAM.
Production and sales of plug-in hybrids in June were 123,000 and 120,000 units, up 180 percent and 170 percent, respectively. Production and sales of fuel cell vehicles were 527 and 455 units, up 18.7 percent and 67.3 percent, respectively.
China's sales of all vehicles in June were 2.5 million units, up 34 percent from May and 23.8 percent year-on-year, according to the CAAM.
Since June, China's auto industry supply chain has fully recovered from the impact of the Covid outbreak, with car companies accelerating production to make up for losses, the CAAM said.
Wholesale auto sales performed well in June, driven by the policy of halving auto purchase tax and local government policies to promote auto consumption, according to the CAAM.
Chinese consumers currently enjoy purchase tax exemptions for NEVs, and since June, the country has reduced the purchase tax on ICE vehicles to spur economic growth.
Between June 1 and December 31, consumers can enjoy a reduction in the purchase tax from 10 percent to 5 percent on passenger vehicles of 2.0 liters or less that cost no more than 300,000 yuan ($45,060).
From January to June, the production and sales of NEVs in China were 2.66 million units and 2.6 million units respectively, both up 120 percent year-on-year, with a market share of 21.6 percent.
New energy passenger car sales accounted for 24 percent of all passenger car sales in the first half of the year, a ratio that reached 39.8 percent for local brands, the CAAM said.
Production and sales of all vehicles in China in the first half of the year were 12.12 million and 12.06 million, down 3.7 percent and 6.6 percent, respectively.
The CAAM expects China's auto sales to reach 27 million units in 2022, up 3 percent from a year earlier. Among them, NEV sales are expected to reach 5.5 million units, up 56 percent year on year.
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