AsianFin — China’s sales of electric vehicles and hybrids grew at their slowest pace in a year and a half in August, as government efforts to rein in bruising price wars take hold.
According to data from the China Passenger Car Association (CPCA) released Monday, sales of new energy vehicles (NEVs)—which include battery-electric cars and plug-in hybrids—rose 7.5% year on year in August. That marked a sharp slowdown from 12% in July and was the weakest gain since February 2024, when sales fell 11.6% due to the timing of the Lunar New Year holiday.
Despite the deceleration, NEV sales still outpaced gasoline-powered vehicles for the sixth straight month, underscoring the structural shift in China’s auto market.
Overall car sales reached 2.02 million units in August, a 4.9% increase from a year earlier but the slowest pace in seven months, CPCA data showed.
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