BEIJING (Reuters) – Sales of new energy vehicles (NEVs) in China fell 4.7% in July from a year earlier, the first drop in more that two years, data from the country’s biggest auto industry association showed.
NEV sales fell to 80,000 units last month in China. That compared with a growth of 80% in NEV sales in June. Overall auto sales in the world’s biggest vehicle market fell 4.3% in July, down for a 13th consecutive month, the China Association of Automobile Manufacturers (CAAM) said on Monday.
That followed declines of 9.6% in June and 16.4% in May, as well as the first annual contraction last year since the 1990s against a backdrop of slowing economic growth and a crippling trade war with the United States.
“The main reason for new energy vehicle sales decline in July is the switch of policies,” said Chen Shihua, assistant secretary general at the CAAM, referring to China’s move to cut NEV subsidies last month.
CAAM has previously said it expects China auto sales…
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