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May 14, 2019

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NEV cars enjoy 59.8% growth

The new-energy vehicle market in China posted vigorous growth in the January-April period amid a sluggish broader automobile sector.

About 360,000 NEV cars were sold in the first four months of 2019, surging by 59.8 percent from the same period a year earlier, data from the China Association of Automobile Manufacturers showed yesterday. The production also rose 58.5 percent year on year.

Sales of electric vehicles rose 65.2 percent during the period to 277,600 units and sales of plug-in hybrid vehicles jumped 43.66 percent to 82,200 in the same period, the data showed.

China sold 96,800 NEVs in April, up 18.15 percent year on year, while the output reached 101,600, an increase of 25.03 percent from a year earlier.

The strong performance of NEVs came after the persistent efforts of the government to boost the NEV market by offering tax exemptions and discounts on car purchases to reduce pollution and foster green transportation.

Yesterday’s data also showed the broader automobile sector remained sluggish as the total auto sales and output for the first four months fell by 12.12 percent and 10.98 percent year on year, respectively.


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