A worker checks new energy vehicles at a logistics park in Liuzhou, south China's Guangxi Zhuang autonomous region, Aug 12, 2021. (LI HANCHI / XINHUA)
BEIJING – China's auto consumption has continued its stable recovery, with sales of new energy vehicles (NEVs) hitting a historic high in the first seven months of the year, according to the Ministry of Commerce (MOC) on Friday.
In the Jan-July period, sales of NEVs in the country tripled from a year ago to near 1.48 million units, surpassing total NEV sales in 2020, said the MOC.
In July alone, NEV sales jumped 160 percent year-on-year to 271,000 units, hitting a monthly historic high, the Ministry of Commerce said
In July alone, NEV sales jumped 160 percent year-on-year to 271,000 units, hitting a monthly historic high, the MOC added.
ALSO READ: Report: China's NEV market to boom in next five years
Auto manufacturers sold approximately 14.76 million vehicles in the first seven months of the year, up 19.3 percent year-on-year.
However, sales in July dropped 11.9 percent year-on-year to over 1.86 million units, marking a third monthly contraction, said the MOC.
The MOC has attributed the slowdown in total auto sales since May to the high base from the same period last year as well as a shortage of auto chips.
READ MORE: China's auto sales up 19.3% in first seven months
MOC data also showed that China's second-hand vehicle trading market experienced a boom in the first seven months.
More than 9.89 million second-hand vehicles were traded during the period, up 46 percent year-on-year.