🧵 2. The rapid growth in new energy vehicles marks a significant shift from a year ago, signaling changing consumer preferences in China's car market.
🧵 5. China's push for new energy vehicles includes subsidies, trade-in policies, and city-level incentives, contrasting with slower adoption rates in the U.S.
🧵 2. The rapid growth in new energy vehicles marks a significant shift from a year ago, signaling changing consumer preferences in China's car market.
🧵 3. Despite concerns about data reliability, battery-only cars led the way, outselling hybrid vehicles in July with a 28% penetration rate.
🧵 4. While overall auto sales in China fell by 2.8% in July, new energy vehicle retail sales surged by almost 37%, driven by government support.
🧵 5. China's push for new energy vehicles includes subsidies, trade-in policies, and city-level incentives, contrasting with slower adoption rates in the U.S.
🧵 Read more at: https://www.cnbc.com/2024/08/09/more-than-half-of-new-cars-sold-in-china-are-now-electric-or-hybrid.html