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Agricultural Development Bank of China
News for Outlets

China's new energy vehicle production and sales grow steadily in H1

July 16, 2019


Abstract : China's new energy vehicle (NEV) production and sales maintained steady growth from January to June, 2019, reaching 614,000 units and 617,000 units, respectively, up 48.5 percent and 49.6 percent year on year, said China Association of Automobile Manufacturer (CAAM) on July 10.

BEIJING, July 16 (Xinhua) -- China's new energy vehicle (NEV) production and sales maintained steady growth from January to June, 2019, reaching 614,000 units and 617,000 units, respectively, up 48.5 percent and 49.6 percent year on year, said China Association of Automobile Manufacturer (CAAM) on July 10.

According to data from the association, the growth rate of new energy vehicle production and sales in the first half of this year is higher than that of the January-May period, but lower than that of year earlier period.

From January to June, China's automobile production and sales reached 12.132 million units and 12.323 million units, down 13.7 percent and 12.4 percent, respectively, showing a slight recovery from the January-May period, said Li Hong, assistant director of the CAAM Information Department. 

Among them, the production and sales of passenger cars were 9.978 million units and 10.127 million units, respectively, down 15.8 percent and 14 percent year on year, while those of commercial vehicles were 2.154 million units and 2.196 million units, down 2.3 percent and 4.1 percent, respectively.

Li pointed out that in general, China's automobile production and sales in the first half of this year are at a low level. However, with the new purchase taxes coming into effect on July 1 and the official switchover to the National Emission Standard VI in some regions, the automobile consumption may gain momentum and is likely to drive market demand in the second half of the year. (Edited by Li Wenxin, liwenxin@xinhua.org)

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Keyword: NEV China-auto-market

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