“China’s domestic market sustained a steady tempo in July, with the selling rate for the month reaching 27.4 million units per year, a slight uptick from the robust June figures. However, the year-to-date (YTD) selling rate averaged only 23.9 million units per year, weighed down by sluggish sales in earlier months. In terms of YoY performance, July sales (domestic wholesale volumes) fell by 10%, partly due to the unusually high levels a year ago and were effectively flat (-0.9%) for the YTD period. A notable milestone was achieved in July, as the share of new energy vehicles (NEVs) among PV sales surpassed 50% for the first time,” GlobalData said.