Things are getting better in China and it seems that there is now only growth ahead.
The Chinese automotive market (passenger cars and commercial vehicles), increased in July by 16.2% year-over-year to over 211,000, although with 1.24 million YTD it s still down by 12.7%.
The positive news is that after 12 negative months, finally, the New Energy Vehicle segment is growing too.
The China Association of Automobile Manufacturers (CAAM) reports that the passenger plug-in cars (we assume FCVs are marginal in the NEVs category) were up 28.7% year-over-year, although the commercial plug-ins were still down 30.1% year-over-year.
New Energy Vehicle sales in China - July 2020
The New Energy Vehicle (NEV) production and sales numbers for passenger cars and commercial vehicles like trucks/buses are as follows:
- Total NEVs: production of 100,000 (up 15.6%) and sales of 98,000 (up 19.3%)
- BEVs: production of 79,000 and sales of 79,000
- PHEVs: production of 21,300 and sales of 19,300
Total NEVs (YTD): production of 496,000 (down 31.7%) and sales of 486,000 (down 32.8%)
* some data on the chart are estimated
More data (from CAAM)
Sales of New Energy Vehicles in July 2020
Production of New Energy Vehicles in July 2020
Sales of Automobiles in July 2020
CAAM forecasts that in 2020, a total of 1.1 million New Energy Vehicles will be sold in China (slightly below 1.2 million in 2019).
According to Moneyball, considering all the brands, SAIC was the biggest New Energy Vehicle manufacturer in China as of July with 20,387 units made.
Second place belongs to Tesla (12,571), while the third biggest is BYD (10,374).