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China’s Jul NEV sales, output post first-time YoY drops

Both sales and production of China’s new-energy vehicles (NEV) declined on year for the first time in July, down 4.7% and 6.9% respectively, after a boost in sales in June as buyers rushed to enjoy the last days of subsidies on such vehicles until June 25, according to the latest release from China Association of Automobile Manufacturers (CAAM) on August 12.
Last month, China produced 84,000 units of NEVs and sold 80,000 units, while its production and sales maintained positive growths on year in the first seven months of 2019, with the former being up 39.1% on year to 701,000 units and the latter up 40.9% on year to 699,000 units,

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