China’s EV Sales Report for July 2023
China’s EV Sales Report for July 2023

China’s EV Sales Report for July 2023

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.

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