In July 2021, new car registrations in China reported a further decline. 1,551,000 units sold have been recorded, which represents a decline of 7% when compared to the same period of the previous year. However, despite this drop, the electric car maintains its upward trend.
The Chinese car market continues to decline. However, the decline has moderated compared to previous months. In July 2021 the car sales in China have counted a total of 1,551,000 units, which compared to the result of the same period of the previous year, represents a 7% decline. Several factors are having direct effects on registrations.
In the first place, we must take into account the so-called “coronavirus effect” since in July 2020 the accumulated demand due to the quarantine established in the first quarter was still being noticed. Secondly, there is the crisis generated by the shortage of microchips and, last but not least, we must bear in mind the entry into the scene of new emission regulations.
Despite the fall in the seventh month, in the accumulated period the data is positive. Between the months of January and July 2021 new car registrations in China reached 11,560,000 units, 21.2% more compared to 2020.
The commercial vehicle sales They present a behavior similar to that of passenger cars. 312,000 commercial vehicles were registered in July, 30.2% less than in the same month last year. And throughout the first seven months of 2021, 3,196,000 commercial vehicles have been sold, 12.9% more compared to the same period of the previous year.
The electric car increases its prominence in China
The so-called «New Energy Vehicles»Or NEV for its acronym in English, they continue to weather the market downturn. This category includes both electric vehicles and plug-in hybrids. 256,000 units were sold in July, 175% more than in the same month last year. Throughout the first seven months, registrations of NEV-type vehicles were 1,398,000 units, representing a growth of 212.3%.
If we break down these sales figures by propulsion system, we will find that the electric car is the main protagonist. The majority option when it comes to betting on sustainable mobility. 206,000 electric cars were sold in July, 179% more than in 2020, while in the period between January and July 1,149,000 electric cars were registered, an increase of 235.2%.
The plug-in hybrid car also plays an important role. In July 2021, registrations of this type of vehicle reached 50,000 units, which has meant a rise of 159.70%. And until the seventh month of this year, 249,000 units were sold, 137.5% more compared to the data of the previous year.