China's NEV sales soar in August: association

BEIJING - Sales of new energy vehicles (NEVs) in China surged in August amid supply improvement and favorable policy, data from an industry association showed Thursday.

Last month, the retail sales of NEVs in China expanded 111.2 percent year-on-year to 529,000 units, according to the China Passenger Car Association.

In the first eight months of this year, the retail sales of NEVs in China totaled 3.262 million units, skyrocketing by 119.7 percent year-on-year, showed the data.

Wholesale sales of NEVs reached 632,000 units in August, up 103.9 percent year-on-year.

The improvement of NEVs supply, rising oil prices, and local government efforts to encourage consumption have created a market boom, said the association.