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BEV Sales Slump in China While PHEVs Advance

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Consumer spending slowdown hits BEVs hardest in the world's second-biggest economy.

August 14, 2024

Battery-electric vehicle sales in July saw a second month of decline in China while plug-in hybrid powered vehicles registered a surge.

According to figures released by the China Association of Automobile Manufacturers (CAAM), BEVs saw 551,000 units sold last month, up 2.6% year-on-year but 10% lower than in June, reports Chinese automotive website CnEVPost.

At the same time, PHEV sales hit a new record high at 438,000 units, up 80.7% year-on-year and up 0.46% from June. Hydrogen fuel-cell vehicle sales were 1,000 units in July, up 181.2% from the same period of last year.

China's new energy vehicle (NEV) sales, including BEVs, PHEVs and fuel-cells, slumped to 991,000 units in July, up 27% year-on-year but down 5.53% from June.

The world's second-biggest market also sees all vehicle sales drop to 2,262,000 units in July, down 5.2% year-on-year and off 11.4% from June, a decline blamed on a slowdown in consumer spending.

The global slowdown in BEV uptake is also reflected in China’s vehicle exports. It exported 77,000 BEV units in July, down 16.7% year-on-year but up 20.9% from June. Exports of PHEVs at 27,000 units were up 190% year-on-year and up 19.9% from June.

Paul Myles

European Editor, Informa Group

Paul Myles is an award-winning journalist based in Europe covering all aspects of the automotive industry. He has a wealth of experience in the field working at specialist, national and international levels.

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BEV Sales Slump in China While PHEVs Advance