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Economic Calendar

China Car Sales Drop 0.3% in July

China’s total vehicle sales fell 0.3% from a year earlier to 2.584 million units in July 2026, following a 3.2% decline in the previous month, according to data from the China Association of Automobile Manufacturers (CAAM). New energy vehicle (NEV) sales soared 23.7% year-on-year to 1.561 million units in July, following 23.6% growth in June, with NEVs accounting for 60.4% of total vehicle sales, breaking the 60% mark for the first time. For the first seven months of the year, vehicle sales dropped 3.7% year-on-year, compared with a 12.0% increase in the same period last year, while NEV sales climbed 9.6% to 9.007 million units. During the period, NEV sales surpassed 50% of total new vehicle sales for the first time. Meanwhile, on a monthly basis, car sales fell 8%. Last year, China’s vehicle sales grew 9.4% year-on-year to a record high of 34.4 million units, accelerating from a 4.5% rise in 2024, while NEV sales surged 28.2%.

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