Improved supply and expectations of higher oil prices have kept the NEV market booming with strong order books, the CPCA said.

Retail sales of new energy passenger vehicles in China from January to July were 2,733,000 units, up 121.5 percent year-on-year.

Wholesale sales of all vehicles in China were 2.13 million units in July, up 40.8 percent year-on-year and down 2.5 percent from June. Retail sales were 1.82 million units, up 20.4 percent year-on-year and down 6.5 percent from June.

In terms of wholesale sales, the penetration rate of NEVs in China was 26.4 percent in July, up 0.3 percentage points from 26.1 percent in June. Local brands were 45.9 percent, luxury brands were 15.8 percent, and mainstream joint venture brands were only 5.2 percent.

In retail sales, the penetration rate of NEVs in July was 26.7, lower than the 27.4 percent in June. Among them, local brands were 51.7 percent, luxury brands were 8.7 percent and mainstream joint venture brands were 4.9 percent.

Tesla sells 28,217 China-made vehicles in July, down 64% from June