China's new car sales 17th consecutive month
Last month's new vehicle sales in China were below the same month last year for 17 consecutive months. Due to a significant cut in the purchase subsidy by the government, the sales volume of electric vehicles, etc., which has been growing so far, has dropped more than 40% for the second consecutive month, and the annual performance may fall below last year .
According to the announcement by the China Automobile Manufacturers Association, which is made by automakers, the number of new cars sold in China last month was 2.457,000, 3.6% lower than the same month last year.
Although the decline was 0.4 points smaller than the previous month, it fell below the same month of the previous year for 17 consecutive months.
The cumulative number of units sold since the beginning of last month has also been 9.1% lower than last year, and it is certain that it will fall below the previous year for the second consecutive year following last year.
In addition, the sales volume of electric vehicles and plug-in hybrid vehicles was 95 million units, 43.7% lower than the same month last year, a drop of more than 40% for two consecutive months.
China's electric vehicle market has grown rapidly over the past few years, but since the subsidy by the government was cut significantly in June, monthly unit sales have been on a year-on-year basis. There is a possibility that the annual results will be lower than last year.