China’s EV Sales Report for July 2023

According to data released for July 2023, China’s production of EVs totaled 805,000 units, representing a month-on-month increase of 2.8%.

Sales for the month were slightly behind production, reaching 780,000 vehicles, marking a 3.2% decrease compared to the previous month.

Year-on-year, both production and sales witnessed significant growth, rising by 30.6% and 31.6%, respectively.

In the cumulative figures for January to July 2023, China produced approximately 4.59 million EVs, with sales nearing this at 4.53 million. These numbers denote robust year-on-year growth rates of 40% in production and 41.7% in sales.

A closer look into specific vehicle types reveals varied patterns:

Plug-in hybrid vehicles: Both production and sales saw minor increases in July compared to the prior month.

Battery electric vehicles (BEVs): Production saw a slight uptick, but sales experienced a marginal decline in July 2023 compared to June.

Fuel cell vehicles (FCVs): These witnessed a noticeable decline in both production and sales in July compared to the previous month. However, when comparing year-on-year figures, FCVs showed a decrease in production but an increase in sales.

On the export front, July saw 101,000 EVs shipped abroad, reflecting a substantial month-on-month growth of 29.5%. Year-on-year, this represents an impressive surge of 87%. The January-to-July period in 2023 has been fruitful for EV exports, totaling 636,000 units, which is a whopping 150% growth from the same period in the previous year.

China’s continued emphasis on transitioning to cleaner energy and technological advancements has propelled its EV market, solidifying its place as a global leader in the electric vehicle segment.