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According to the China Automobile Association, new energy vehicle sales experienced negative growth for the first time in July, with sales of 80, 000 new energy vehicles in that month, down 4.7% from the same period last year. From January to July this year, sales of new energy vehicles were 699000, up 40.9% from the same period last year. China Automobile Association predicts that sales of new energy vehicles in 2109 are expected to be about 1.5 million, an increase of 19.4% over the same period last year.

In terms of brand segmentation, with the exception of Jianghuai New Energy, the other mainstream car companies' new energy vehicle targets are less than 50% of the annual sales target. The top three, BYD, SAIC passenger cars and BAIC New Energy sold 162000, 90, 000 and 78000 vehicles respectively, accounting for 39, 45 and 35 per cent of the annual sales target.

As sales fell short of expectations due to the market downturn, many car companies have lowered their sales targets for new energy vehicles.

BAIC New Energy lowered its sales target to 150000 vehicles from 220000 at the beginning of the year, Geely New Energy also lowered its sales target by 30-50, 000 vehicles, and BYD lowered its original sales target of 400000 units to 350000 units.

However, according to the data released by BYD, in terms of new energy vehicles, BYD sold 16567 vehicles in July, down 11.84% from a year earlier, which is the first decline in BYD New Energy this year. From January to July, BYD sold a total of 162220 new energy vehicles, an increase of 73.17% over the same period last year.

It is worth noting that among the new energy vehicles, BYD sold 9515 pure electric passenger vehicles in July, up 16.4% from January to July to 105294 vehicles, an increase of 228.88% over the same period last year. Plug-in hybrid passenger cars sold 6495 vehicles in July, down 35.22% from the same period last year, down 10.41% from January to July. New energy commercial vehicles sold 557 vehicles in July, down 5.59% from January to July, up 29.61% from January to July.

Although sales fell in July, there is still an increase compared with last year for the whole year, and the fact that BYD can still grow in the current depressed market environment also proves the recognition of its strength.

Wang Chuanfu, chairman of BYD, also said at the 2019 World New Energy Conference not long ago that BYD New Energy is expected to grow by 70% and 80% this year.

BYD will also continue to improve, in terms of product strength and technology. On July 19th, BYD and Toyota announced that they would jointly develop a pure electric SUV for cars and low chassis, as well as the power batteries needed for the above products.

BYD started the battery industry in 1995 and has mastered the core technologies of electric vehicles such as battery, IGBT, motor and electric control, and has become an enterprise that can provide integrated solutions for new energy, including electric vehicles and power batteries. Since Toyota launched the world's first mass-produced hybrid model in 1997, as a pioneer in the development of electric vehicles, Toyota has rich technology and experience in R & D, manufacturing and sales. In the future, BYD and Toyota will combine their technical accumulation and development strength in the field of electric vehicles and batteries to develop more attractive pure electric vehicle products and promote the further popularization of pure electric vehicles.

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