You are here: News > Data Analysis > Precious Metals > Report: China’s passenger EV sales up 150% in Apr

Report: China’s passenger EV sales up 150% in Apr

Data Analysis 04:16PM May 10, 2018 Source:SMM

SHANGHAI, May 10 (SMM) – Sales of new-energy passenger vehicles in China came in at 73,145 units in April, up 150% year on year and up 31.3% month on month, according to data from China Passenger Car Association (CPCA) released on Wednesday May 9.

The jump in April suggested a continuous growing demand, Cui Dongshu, secretary general at CPCA, was quoted as saying in local media reports.

The A00 battery electric vehicles (BEVs), a small-sized vehicle with relatively short driving range, maintained its popularity among buyers in April. Sales of A00 BEVs stood at 29,579 units in April, up 87% on the year and 7% on the month, accounting for 52.4% of overall BEVs sales. April’s figure also brought its January-April sales up to 65% of the overall BEVs sales.

The new subsidy policy for new-energy vehicles (NEVs), effective from mid-June, will cut subsidies for those with relatively short driving range and raise subsidies for those with driving range of above 300 kilometres. This boosted the sales vehicles such as A00 BEVs during the transition period. In addition, A00 BEVs still have its market potential in the future as their costs decline.

Plug-in hybrid electric vehicles (PHEVs) saw strong performance in April with a year-on-year increase of 243%. Sales of PHEVs came in at 16,677 units last month, up 13% month on month. Total sales for the first four months of this year amounted to 54,058 units, up 269% year on year. Some buyers were more keen on PHEVs given the higher prices of BEVs and worries over the driving range.

 


For editorial queries, please contact Daisy Tseng at daisy@smm.cn 
For more information on how to access our research reports, please email service.en@smm.cn

Key Words:  NEVs