• In July, China's passenger NEV wholesale sales are estimated at 1.18 million units, up 25 percent year-on-year, but down 4 percent from June.
• From January to July, China's NEV wholesale sales were estimated at 7.63 million units, up 35 percent year-on-year.

China's new energy vehicle (NEV) wholesale sales continued to grow last month, but declined from June as the market entered the slow season.

In July, China's passenger NEV wholesale sales are estimated at 1.18 million units, up 25 percent year-on-year, but down 4 percent from June, according to a report released today by the China Passenger Car Association (CPCA).

With the recent launch of some popular new models, the market trend is generally strong, and some manufacturers have performed well, the CPCA noted.

Leapmotor (HKG: 9863), Xpeng (NYSE: XPEV), Xiaomi EV, Dongfeng Nissan, and GAC Toyota all achieved record-high wholesale sales of NEVs, the report said.

Additionally, many smaller automakers performed well, contributing to the overall increase in NEV sales, the CPCA noted.

In June, manufacturers with passenger NEV wholesale sales exceeding 10,000 units accounted for 91.7 percent of the month's total NEV wholesale sales.

These automakers are projected to sell 1.08 million units in July. Based on last month's structure, China's passenger NEV wholesale sales in July are expected to reach 1.18 million units, according to CPCA.

In January-July, China's NEV wholesale sales are estimated to be 7.63 million units, up 35 percent year-on-year, according to the CPCA.

In China, NEVs include battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles. The specific figures are expected to be released later this month.

Among major automakers' NEV wholesale sales, BYD (HKG: 1211, OTCMKTS: BYDDY) sold 341,030 units, Geely sold 130,124 units, Changan Automobile sold 76,765 units, Tesla (NASDAQ: TSLA) sold 67,886 units, and SAIC-GM-Wuling sold 62,395 units.

Previously released data from BYD showed that it sold 344,296 NEVs in July, including 341,030 passenger NEVs and 3,266 commercial NEVs.