China’s first-half NEV passenger sales accounted for 59% of global total – industry body
DATA MACRO
China’s first-half NEV passenger sales accounted for 59% of global total – industry body
DATA MACRO

China’s first-half NEV passenger sales accounted for 59% of global total – industry body

 

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China sold 2.51 million units of new energy passenger vehicles in the first half of the year, accounting for 59% of the world’s total NEV sales during the period, according to data released by the China Passenger Car Association (CPCA).

That’s up from 41% in 2020 and 52 % in 2021, according to the association.

The global NEV passenger sales reached 4.21 million units in the first six months of the year, surging 71% from a year earlier, and in June alone, sales reached about 880,000 units, rising 46% year over year, said Cui Dongshu, secretary general of the association.

For comparison, the US and Europe contributed 11% and 26% of global NEV passenger sales during the six-month period, respectively.

China’s leading position in global NEV sales is attributable to smooth supply and strong demand, while production and sales of both conventional vehicles and NEVs in Europe were low in the first half, Cui said.

China’s NEV market has shifted to be driven by market rather than policy forces, creating strong endogenous growth drivers, said Cui .