by china new energy vehicles (NEV) Electric and rechargeable hybrid vehicles, called electric and rechargeable hybrid vehicles, increased by 37% on an annual basis in July, according to data from the China Passenger Automobile Association. It reached 50.7% of automobile sales and broke a record. This represents a 28.6% increase in NEV vehicles and a 14.4% increase in fully electric vehicles compared to June.
The government offers various incentives
Three years ago, in the country where electric vehicles had only a 7% share of sales, government incentives and falling prices As a result, there is an explosion in sales.
In China, total decline of 3.1% year on year in July 2024 1.73 million passenger car was sold. Therefore, in order to increase car sales, the Chinese government announced the launch of electric vehicles in late July. increased cash incentives to 20,000 yuan ($2,785) and made it retroactive to April when it was first announced. Also, NEVs in 2024 and 2025 Up to 30,000 yuan ($4,175) is exempt from sales tax. Additionally, consumers replacing their gasoline cars with NEVs 20,000 yuan ($2,540) scrap incentive It is also available.
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