Auto sales in China maintained their growth in July, largely due to rising demand for passenger cars and strong stimulus policies.

Last month, sales in the world’s largest auto market reached about 2.42 million units, down 3.3% from the previous month, while jumping 29.7% year-on-year to an all-time high for the same month.

In the first seven months of 2022, China’s auto sales totaled 14.477 million units, down 2% from a year earlier, but year-to-date sales of new energy vehicles (NEVs) are still up about 120% year-on-year. , industry data showed.

Overall growth in the country’s auto sales in July showed that China’s major auto groups also saw year-on-year gains.

So Gasgoo presented sales data released by ten major Chinese auto groups and found that they all achieved double-digit sales jumps in July compared to the same period last year.

July 2022 sales update of major Chinese car groups

The monthly sales growth of SAIC Motor, China’s largest automobile concern, continued to exceed 40% year-on-year in July. Thanks to sharp growth in June and July, the Shanghai auto giant saw its year-to-date sales change from negative to positive.

BYD was still the fastest growing in terms of July sales. Notably, the NEV-only automaker posted triple-digit monthly sales growth in the first seven months of this year.

Chery Holding boasts a 57.7% year-on-year jump with more than 130,000 vehicles sold last month.

In terms of year-to-date performance, BYD outperformed the others with a triple-digit jump of 166.01% year-on-year. In addition, SAIC Motor, GAC Group and Chery Holding also faced increasing momentum in January-July. sales.

However, sales of other car groups since the beginning of the year do not exceed last year’s figures.

July 2022 sales update of major Chinese car groups

In the NEV sector, all ten car groups posted sharp gains over a year ago in July. Of these, Geely Automobile recorded the highest growth (354.2%), while BYD and Chery Holding increased their NEV sales by more than 200% respectively.

In addition, the growth of sales abroad also had a significant impact on the July sales of some car groups. According to public data, SAIC Motor, Geely Automobile and Chery Holding announced that the volume of exports and sales abroad in July increased by more than 85% compared to the same period last year. JAC Group’s export volume rose 24.67% to 8,322 units last month.

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