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China’s EV sales slide again amid fading incentives, weak demand and persistent price war
['Daniel Ren']
South China Morning Post
Deliveries of electric vehicles (EVs) in China fell 3.9 per cent in July from a year earlier, extending their decline to a seventh consecutive month as fading government incentives and weaker consumer demand weighed on the market.
Domestic sales of pure electric and plug-in hybrid vehicles last month also fell 5.8 per cent from June, according to data from the China Passenger Car Association (CPCA).
“The grim reality is that all of the players may need to resort to price cuts to boost sales in the coming months.”
EVs accounted for 65.1 per cent of the total car sales last month.
Between January and July, Chinese carmakers delivered a total of 5.67 million EVs to domestic customers, down 12.5 per cent from a year earlier, according to the CPCA.