China auto sales drop 2.9% in June but exports soar 56% - PingWest
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China auto sales drop 2.9% in June but exports soar 56%
China auto sales drop 2.9% in June but exports soar 56%
July 12, 2023 4:36 am
According to data from the China Passenger Car Association (CPCA), sales of China's passenger vehicles in June suffered a 2.9% decline from last year, marking the first monthly slump since January, with sales reaching 1.91 million units.
Sales of new energy vehicles (NEVs), including pure battery-electric vehicles and plug-in hybrids, remained strong, increasing by more than 25 percent and accounting for about 35% of total vehicle sales.
In the first half of the year, NEV sales jumped more than 37% to 3.09 million vehicles.
Despite a soft demand in the big-ticket sector, both BYD and Tesla made record deliveries of their China-made vehicles in the second quarter.
In addition, automobile exports stayed strong. According to CPCA, auto exports totaled 290,000 units last month, up 56% year-on-year.
Among them, 70,000 NEVs were exported, up 185.3% year-on-year.
Passenger car exports in the first half of the year amounted to 1.68 million units, up 92% year-on-year, the data showed.
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