August 12, 2019 / 6:17 AM / 4 months ago

China July NEV sales down 4.7% y/y - industry association

BEIJING, Aug 12 (Reuters) - Sales of new energy vehicles (NEVs) in China fell 4.7% in July from a year earlier, the first drop in more two years, data from the country’s biggest auto industry association showed.

That compared with growth of 80% in NEV sales in June.

Overall auto sales in the world’s biggest vehicle market fell 4.3% in July, down for a 13th consecutive month, the China Association of Automobile Manufacturers (CAAM) said on Monday.

That followed declines of 9.6% in June and 16.4% in May, as well as the first annual contraction last year since the 1990s against a backdrop of slowing economic growth and a crippling trade war with the United States. (Reporting by Yilei Sun, writing by Lusha Zhang and Se Young Lee; Editing by Himani Sarkar)

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