China's NEV output, sales register stellar growth in first 8 months

BEIJING -- China's production and sales of new energy vehicles (NEVs) continued to maintain fast growth in the first eight months of this year, with the NEV market share steadily increasing in the domestic market, industry data showed on Tuesday.

During the period, the production of NEVs reached about 7.01 million units, rising 29 percent year on year, according to data from the China Association of Automobile Manufacturers (CAAM).

The sales of NEVs stood at 7.04 million units, growing by 30.9 percent from a year earlier, the data reveals. The market share of NEVs in China reached 37.5 percent in the period.

In August alone, the production and sales of NEVs hit 1.09 million units and 1.1 million units, respectively, representing an increase of 29.6 percent and 30 percent year on year, according to the CAAM.

The sales of NEVs in August account for 44.8 percent of the sales of new vehicles in China.

In the January-August period, some 818,000 units of NEVs were exported, representing a year-on-year increase of 12.6 percent, the data shows.