China's new energy vehicle (NEV) wholesale figure for July is estimated to surge by 25% compared to the same period last year, reaching approximately 1.18 million units.

China's new energy vehicle (NEV) wholesale figure for July is estimated to surge by 25% compared to the same period last year, reaching approximately 1.18 million units.

China's New Energy Vehicle Market Thrives in July

China's new energy vehicle (NEV) market continued its strong trend in July, with a significant increase in sales compared to the same period last year. According to the China Passenger Car Association (CPCA), NEV wholesale sales for January-July reached an estimated 7.63 million units, up 35% year-on-year.

In July alone, retail sales of passenger NEVs rose by 12% year-on-year to just over 1 million units, accounting for about 51% of total passenger vehicle sales in China. This growth was driven by government incentives and a rebound in demand after earlier aggressive price competition subsided.

Leading the pack was BYD Auto, with multiple models such as the Seagull, Song PLUS, and Qin L showing strong sales and growth. BYD sold a total of 341,030 NEVs in July, including 341,030 passenger NEVs and 3,266 commercial NEVs.

The Wuling Hongguang MINI EV also maintained high volumes and rapid growth, while the Tesla Model Y remained a significant player despite some sales fluctuation. Geely Xingyuan consistently appeared among the top-selling NEVs, and Xiaomi's SU7 demonstrated strong growth, reflecting emerging competitiveness among newer entrants.

Other major automakers also performed well, with Geely selling 130,124 units, Changan Automobile selling 76,765 units, and SAIC-GM-Wuling selling 62,395 units in NEV wholesale sales. Smaller automakers also contributed to the overall increase in NEV sales, as noted by the CPCA.

Leapmotor, XPeng, iQiyi EV, Dongfeng Nissan, and GAC Toyota all achieved record-high NEV wholesale sales, further evidence of the growing diversity and competitiveness within China's NEV market.

The market for NEVs in China is expected to continue its strong trend, with the specific figures for NEV sales of all automakers, including the ones mentioned and others, expected to be released later this month. As the market evolves, it is likely that consumer preferences and technological advancements will continue to shape the landscape of China's NEV industry.

[Sources: 2, 3, 4]

1. In July, BYD Auto, a key player in China's electric vehicle market, recorded strong sales with models like the Seagull, Song PLUS, and Qin L.
2. The Tesla Model Y, despite some sales fluctuation, remains a significant player in China's new energy vehicle market.
3. Geely Xingyuan, Xiaomi's SU7, and various other automakers, such as Leapmotor, XPeng, iQiyi EV, Dongfeng Nissan, and GAC Toyota, also showed impressive growth in NEV sales.
4. China's new energy vehicle market's sales data for all automakers, including the ones mentioned, is expected to be released later this month.
5. The growth in China's NEV market has been driven by factors such as government incentives and a rebound in demand.
6. As China's new energy vehicle market evolves, data-and-cloud-computing technology and energy efficiency will likely continue to play crucial roles in shaping the landscape of the industry.

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