Sales of electric cars in China are up in 2019 but down in the last few months
- Vehicle sales in China fell for the 14th consecutive month in August 2019, with a decline of 6.9% on a total of 1.96 million units, but less than the decline observed over the first eight months of the year as a whole (-11% on a total of 16.10 million units).
- The SUV segment, which had been growing strongly during the last decade until 2018, but was down over the first 8 months of 2019, experienced a small increase of 1.5% in August 2019. The SUV segment was right behind the sedan segment in August (747,000 units versus 777,000).
- The electric car category (BEV and PHEV) fell by 15.8% in August 2019 to 85,000 units, including 69,000 BEV (-6%) and 16,000 PHEV (-41%). This decrease confirmed in September (-24.5% including -29.8% for BEVs and -38.8% for PHEVs) due to the decrease in aid granted by the Chinese government to this type of vehicle. It should be recalled that the Chinese government has reduced this aid in order to focus all its efforts on the installation of new charging stations, because after subsidizing the development of Chinese brands of electric cars, the Chinese government now wants to instore some order in this market while supporting demand by increasing the number of charging stations, which is one of the main factors in the development of this market.
- However, the electric car market in China remains largely positive over the first nine months of 2019, at 871,838 units, compared with 649,356 units in the first nine months of 2018, an increase of 34.5%.
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