Record number of new energy vehicles sold in China in August

According to the China Automobile Association, a record number of cars were sold in China in August

cars on new energy sources, towhich include all-electric cars and plug-in hybrid cars. A total of 666,000 of these vehicles were sold. Total car sales in China in August amounted to 2.38 million units, up 32.1% year-on-year but down 1.5% from July.

It is noted that from January to August of this year16.86 million new cars were sold in the Chinese market, which is 1.7% more than last year's results. According to the China Automobile Association, the production and sales of new cars continue to grow rapidly compared to the previous year. This is facilitated by the tax incentives adopted by the Chinese government for the purchase of cars on new energy sources, as well as other incentive measures. Separately, it is emphasized that in August 351,000 Chinese premium cars were sold, sales growth in this segment amounted to 43.5% compared to last year.