According to the latest data released by China Association of Automobile Manufacturers, in July, the production and sales of passenger cars were 2.21 million and 2.174 million respectively, up by 42.6% and 40% respectively. From January to July, the production and sales of passenger cars were 12.645 million and 12.529 million respectively, up by 10.9% and 8.3% respectively.

Preferential purchase tax and other policies to promote consumption continue to exert strength, and the consumer demand of passenger cars in China continues to recover, driving the automobile production and sales to continue to maintain a rapid growth. In July, automobile production and sales reached the highest value in the same period of the previous year, with 2.455 million and 2.42 million vehicles completed respectively, up by 31.5% and 29.7% respectively.

The production and sales of new energy vehicles continue to maintain rapid growth. In July, the production and sales of new energy vehicles were 617,000 and 593,000 respectively, with a year-on-year increase of 1.2 times. From January to July, the production and sales of new energy vehicles reached 3.279 million and 3.194 million respectively, with a year-on-year increase of 1.2 times and a market share of 22.1%.

Automobile exports hit a record high again. In July, automobile enterprises exported 290,000 vehicles, a record high in a row. The export volume increased by 16.5% month-on-month and 67% year-on-year. Among them, new energy vehicles exported 54,000 vehicles in the month, up 89.9% from the previous month and up 37.6% from the same period last year, showing a rapid growth momentum. From January to July, automobile enterprises exported 1.509 million vehicles, a year-on-year increase of 50.6%.

The good development trend is expected to continue. In July, the PMI of the automobile industry was higher than 52%, which was better than that of the manufacturing industry as a whole. It kept expanding for two consecutive months, and production and sales continued to recover. China Association of Automobile Manufacturers said that the automobile market continued to maintain steady growth in August. It is expected that the traditional golden consumption season of the automobile market will come in September, the production and sales of passenger cars will show rapid growth, and new energy vehicles and automobile exports will also maintain good performance.