Sales of NEV Makers Declined in Jan on Removal of NEV Subsidies

The sales of NEV manufacturers generally fell sharply in January except Li Auto, whose sales in January were 15,141 vehicles, up 23.4% on the year. To be specific, NIO delivered 8,506 units of new cars in January, down 11.87% on the year and 46.22% on the month.

NETA's new car delivereis stood at 6,016 units, down 45.4% from the previous year, among them 3,487 units of V-series were delivered, 1,012 units of U-series and 1,517 units of S-series.

Xiaopeng Motors delivered a total of 5,218 new cars, down 50% compared with December 2022 and down 59.6% from last January.

GAC Aian sold only 10,206 new energy vehicles, a year-on-year decrease of 36.3% and a month-on-month decrease of 66%.

Market analysts point out the major culprit for the decline in NEV sales this January is the removal of NEV subsidies at the end of last year. In addition to the price hikes that suppressed sales, many domestic NEV sellers introduced short-term measures in last November and December to maintain prices before hiking them, which advanced the purchasing demand. As a result, the NEV sales in last December posted a large increase while slumped in this January.