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New energy vehicle sales in the world's second largest economy fell 4.7% year-on-year in July, the first decline in more than two years, according to data from the largest badociation in the automotive industry from China.
Sales of new energy vehicles in China fell to 80,000 units last month. This compares to a 80% sales growth in June.
Total vehicle sales in the world's second largest market fell 4.3% in July, continuing its 13th consecutive month of decline, the China Automobile Manufacturers Association announced on Monday.
This followed a 9.6% drop in June, a 16.4% decline in May, and the first annual contraction since the 1990s, due to a slowdown in economic and social growth. a painful trade war with the United States.
"The main reason for the decline in new energy vehicle sales in July is the policy change," said Chen Shehua, deputy general secretary of the Association of Automobile Manufacturers, citing China's decision to cut back on new energy vehicles. last month.
The badociation had previously said it expected China's vehicle sales to drop by 5 percent year-on-year to 26.68 million vehicles this year. It has reduced its forecast of new energy vehicle sales to 1.5 million, compared to a previous forecast of 1.6 million.
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