New energy vehicles accounted for more than 60 percent of China's new vehicle sales for the first time in July, consolidating the segment's position as the main growth engine of the country's auto industry, latest industry data showed.
Data released by the China Association of Automobile Manufacturers on Wednesday showed that NEV output reached 1.576 million units last month, up 26.8 percent year-on-year, while sales rose 23.7 percent to 1.561 million units, or 60.4 percent of total new vehicle sales.
The milestone is a wider indicator of growth than the passenger car retail gauges often cited in the market, as the association's tally covers passenger and commercial vehicles and includes sales at home and abroad, showing that NEVs now form the bulk of the industry's overall sales mix.
The record was accompanied by a second milestone. In the first seven months of this year, NEV output rose 9.5 percent year-on-year to 9.014 million units, while sales increased 9.6 percent to 9.007 million units.
NEVs accounted for 51.2 percent of total new vehicle sales during the period, the first time the cumulative share has exceeded 50 percent.
