Thursday, 2023 October 5

New energy vehicle sales in China maintain momentum by doubling transactions in March

A total of 111,000 new energy passenger vehicles were sold in China in March, representing an increase by 100.9% year-on-year, according to data released by the China Passenger Car Association on Tuesday.

These green cars, including plug-in hybrids and pure electric vehicles, accounted for 6.4% of all passenger cars sold in China in March, which reached 1.74 million units, down by 12.1% year-on-year.

The association’s previous data shows that in February, 50,800 new energy passenger cars were sold, up by 74.4% year-on-year; in January, 96,500 units were sold, up by 198% compared to the same period in 2018.

The association, which deems the drop in subsides in late March as an expected development, predicts the total sales of green passenger cars to hit 1.7 million units in 2019. Last year, a total of 1.26 million new energy vehicles, including passenger cars and commercial cars, were sold in the country.

China cut its national-level subsidies for NEVs by 50%, terminated local governmental subsidies, and ordered local-level administrators to build better infrastructure to support the industry.

The country aims to put five million new energy cars on the road by 2020. China already has the world’s largest NEV stock, with cumulative sales of almost three million units as of 2018.

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Jingli Song
Jingli Song
I believe Chinese innovation at various level needs to be known by the world.

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