China's passenger car retail sales fell in July from June, but the NEV market was bolstered by fast-growing sales of hybrid models, the CPCA said.
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China's passenger car retail sales fell in July from June, but the NEV market was bolstered by fast-growing sales of hybrid models, the CPCA said.
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Deutsche Bank also expects Tesla to sell 45,000 units at retail in China in July, Li Auto at 48,000 units and Zeekr at 15,000 units.
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Li Auto had 10,900 insurance registrations last week, Xpeng 1,900 and Zeekr 3,000.
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A total of 11.5 million units means that China's NEV sales will exceed the 10 million mark for the first time in 2024, representing a growth rate of 22 percent.
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Tesla sold 59,261 vehicles in China in June, down 20.15 percent year-on-year but up 7.33 percent from May.
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Tesla delivered 443,956 vehicles in the second quarter, above Wall Street analysts' estimates of 439,302.
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In June, price wars in China's auto market cooled down, spurring consumer sentiment among groups that had been on the sidelines, the CPCA said.
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