{"id":205458,"date":"2021-08-11T10:31:03","date_gmt":"2021-08-11T10:31:03","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=205458"},"modified":"2021-08-11T10:31:03","modified_gmt":"2021-08-11T10:31:03","slug":"chinas-auto-sales","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/chinas-auto-sales\/","title":{"rendered":"China\u2019s auto sales stumble for a third straight month in July"},"content":{"rendered":"

China\u2019s auto sales fell in July for the third month in row due to flooding in some areas of the country in addition to COVID-19<\/a> outbreaks in other areas.<\/p>\n

The global shortage of semiconductors also played part in downturn.<\/p>\n

China Association of Automobile Manufacturers (CAAM<\/a>), China\u2019s auto sales, drop 11.9% from the same month a year earlier to 1.86 million vehicles.<\/p>\n

The country is the world’s biggest auto market.<\/p>\n

China\u2019s auto sales<\/h2>\n

China\u2019s auto sales increased by 19% as the market recovered from pandemic lows during the first seven months of the year.<\/p>\n

However, the sales are expected to fall gradually for the rest of 2021 to lower than below relatively high year-ago levels, CAAM said. This is despite the market is still expected to log growth overall on an annual basis.<\/p>\n

The global chip shortage, which has led to automakers curtailing production, was unlikely to resolve itself soon as the pandemic rages on in many parts of the world, Chen Shihua, a senior CAAM executive, said.<\/p>\n

Nonetheless, sales of new energy vehicles continued in July and doubled to 271,000.<\/p>\n

Energy vehicles include battery-powered electric vehicles, plug-in petrol-electric hybrids and hydrogen fuel-cell vehicles.<\/p>\n

Energy vehicles<\/h2>\n

Electric car makers such as Nio Inc, Xpeng Inc and BYD Co Ltd to expand manufacturing capacity in China after the government promoted greener vehicles to cut pollution.<\/p>\n

In Q2 2021, Nio Inc.\u00a0delivered 21,896 vehicles, an increase of 112% year over year.<\/p>\n

The company currently only sells its products in China, but it plans to expand to international markets.<\/p>\n

The company is growing its revenue impressively and its net income is trending in the right direction.<\/p>\n

As for XPeng, it\u00a0began deliveries to customers in 2018, and was listed in the U.S. in August 2020. <\/span><\/p>\n

The company delivered 17,398 electric vehicles in Q2 2021, up from 13,340 deliveries in Q1.<\/p>\n

The company’s revenue grew significantly in the last few quarters, in-line with the growth in its vehicle deliveries.<\/p>\n

As well as, BYD\u00a0Company has been growing its revenue rapidly and has been making profits for years.<\/p>\n

In Q2, BYD delivered 99,828 new energy vehicles, which included plug-in hybrid vehicles as well as buses and other commercial vehicles.<\/p>\n","protected":false},"excerpt":{"rendered":"

China\u2019s auto sales fell in July for the third month in row due to flooding in some areas of the country in addition to COVID-19 outbreaks in other areas. The global shortage of semiconductors also played part in downturn. China Association of Automobile Manufacturers (CAAM), China\u2019s auto sales, drop 11.9% from the same month a […]<\/p>\n","protected":false},"author":4,"featured_media":205460,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[278],"class_list":["post-205458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-featured"],"yoast_head":"\nChina\u2019s auto sales stumble for a third straight month in July | BNReport<\/title>\n<meta name=\"description\" content=\"BNReport - China\u2019s auto sales fell in July for the third month in row due to flooding in some areas of the country in addition to COVID-19 outbreaks\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/chinas-auto-sales\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China\u2019s auto sales stumble for a third straight month in July | BNReport\" \/>\n<meta property=\"og:description\" content=\"BNReport - 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