Beijing, September 11 (FinanceFlashNews.com) – Car sales in China fell by 5% year-over-year in August, totaling 2.45 million units, according to data from the China Association of Automobile Manufacturers (CAAM). Despite the decline, sales of new energy vehicles (NEVs), including fully electric and plug-in hybrid cars, surged by 30%, reaching 1.1 million units, which accounted for 44.8% of total sales.
Slight Improvement Compared to July
The overall market showed signs of easing, as the 5.2% year-over-year drop in July was slightly more pronounced than August’s figures. Between January and August, total vehicle sales in China grew by 3%, amounting to 18.77 million units, while car production increased by 2.5% to 18.67 million units.
Key Automotive Data for August 2024
| Metric | August 2024 Data |
|---|---|
| Total Car Sales (YoY) | -5% |
| Total Units Sold | 2.45 million |
| New Energy Vehicle Sales (YoY) | +30% |
| New Energy Vehicles’ Share of Sales | 44.8% |
| Year-to-Date Total Car Sales (Jan-Aug) | 18.77 million |
| Year-to-Date Total Car Production | 18.67 million |
Keywords: China car sales, new energy vehicles, CAAM, automotive market, August 2024, vehicle production
