The largest car manufacturer in the world
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The growth of the world’s largest car manufacturer in the Chinese market reached 2.42 million vehicles with a growth of 29.7% compared to last year, leaving behind the decrease in sales due to the restrictions of Corona. It was two percent less than the same period in 2021. Sales of new energy vehicles, which include pure electric vehicles, plug-in hybrids and hydrogen fuel cell vehicles, were up 120 percent in July from a year earlier.
The China Association of Automobile Manufacturers tracks sales of broader vehicles, including passenger vehicles, buses and trucks, while the China Passenger Car Association, which reported July sales this week, focuses on auto retail sales.
The world’s largest auto market will see “sustainable growth” over the next few months, Zhou Haidong, a senior official at the China Association of Automobile Manufacturers, said after a chip shortage that dented sales last year. July sales were 3.3 percent lower than in June as waves The nationwide heat has slowed factory production and reduced customer visits to showrooms. China has tried to revive auto demand with incentives such as lower sales taxes on small motor vehicles and subsidies to encourage the trade-in of gasoline-powered cars with electric vehicles.
The industry was also hit hard by efforts to combat Covid-19 earlier in the year, with months of strict lockdowns in the main manufacturing hubs of Shanghai and Changchun. High oil and battery prices are pushing consumers toward economy plug-in hybrids, which Their sales nearly tripled in the first seven months of the year, while sales of purely electric vehicles doubled. Demand for commercial vehicles remained weak, with sales falling 21.5 percent in July, suggesting China is still fully engaged. It has not resumed in the field of logistics and infrastructure development.
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