The China Passenger Car Association (CPCA) has announced that the wholesale sales of new energy vehicles (NEVs) in China are estimated at 1.51 million units in June this year, up 22 percent year on year, while rising by 12 percent month on month, indicating a rebound in new energy vehicle sales following the previous contractions.
The disruption of navigation through the Strait of Hormuz pushed up oil prices, which exerted a positive impact on NEV sales in both Chinese domestic market and in export markets.
