China NEV sales back above 1 million in Jun, CAAM data show

China sold 612,000 BEVs and a record 436,000 PHEVs in June.

China NEV sales back above 1 million in Jun, CAAM data show

China's new energy vehicle (NEV) sales moved back above 1 million units last month as the rebound continues.

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The country sold 1,049,000 NEVs in June, up 30.1 percent year-on-year and up 9.8 percent from May, according to data released today by the China Association of Automobile Manufacturers (CAAM).

That's the third time China's NEV sales have exceeded 1 million units in a single month, signaling a further recovery from the weak performance at the beginning of the year.

In November 2023, China's NEV sales reached 1,026,000 units, the first time they exceeded the 1 million mark. In December, the figure was a higher 1,191,000.

CAAM's NEV sales are the wholesale sales of automakers, including sales in China and exports to overseas markets. NEVs include battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles.

China's BEV sales in June were 612,000 units, up 7.4 percent year-on-year and up 4.97 percent from May.

China NEV sales back above 1 million in Jun, CAAM data show

June PHEV sales were a new record high at 436,000 units, up 85.1 percent year-on-year and up 17.52 percent from May.

China NEV sales back above 1 million in Jun, CAAM data show

Fuel cell vehicle sales in June were 1,000 units, up 11.4 percent year-on-year.

China's all vehicle sales in June were 2,552,000 units, down 2.7 percent year-on-year while up 5.6 percent from May.

China NEV sales back above 1 million in Jun, CAAM data show

This means that NEV penetration was 41.1 percent in June, up from 39.5 percent in May.

China NEV sales back above 1 million in Jun, CAAM data show

Excluding exports, domestic NEV sales in June were 963,000 units, up 32.2 percent year-on-year and up 12.5 percent from May.

China NEV sales back above 1 million in Jun, CAAM data show

In June, 485,000 vehicles were exported from China, up 26.9 percent year-on-year and up 0.7 percent from May.

China NEV sales back above 1 million in Jun, CAAM data show

Of these, NEV exports were 86,000 units, up 10.3 percent year-on-year but down 13.2 percent from May.

China NEV sales back above 1 million in Jun, CAAM data show

China exported 63,000 units of BEVs in June, down 5.3 percent year-on-year and down 17.5 percent from May.

The country exported 22,000 units of PHEVs in June, up 110 percent year-on-year and up 2.1 percent from May.

In the first half of 2024, BYD was No. 1 in China's NEV market with a 33.8 percent share, while Tesla was No. 3 with a 6.8 percent share.
Jul 9, 2024
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