Stimulus Policies have been Introduced across Multiple Regions to Encourage Consumption of NEVs and Trading Area

Published: Nov 15, 2021 11:07

Save

Various regions have intensively introduced new measures to promote consumption approaching the end of the year, such as expanding auto consumption, increasing consumption in trading area and issuing consumer vouchers, in an effort to enhance the ballast effect of consumption on economic growth.

SHANGHAI, Nov 15 (SMM) - Various regions have intensively introduced new measures to promote consumption approaching the end of the year, such as expanding auto consumption, increasing consumption in trading area and issuing consumer vouchers, in an effort to enhance the ballast effect of consumption on economic growth.

Commodities like NEVs are the focus of consumption promotion. Guangzhou has issued "Several Policies and Measures to Promote Urban Consumption", which proposes to increase the allocation of energy-saving cars to 80,000 in 2021-2022. Shenzhen proposed to further loosen the application requirements for new energy cars, remove restrictions on social security conditions and other restrictions so as to promote the sales of NEVs. Cui Dongshu, CPCA secretary-general, said that the current shortage of chips was eased. The output of NEVs is expected to register 2.4 million this year, and there may be more relevant stimulus policies early next year.

NEV consumption

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

[SMM Tin Flash: GAC Group: March Automobile Production Reached 193,800 Units, up 2.60% YoY]

GAC Group announced that in March 2026, automobile production was 193,800 units, up 2.60% YoY, and sales were 176,900 units, up 1.68% YoY; cumulative production for the year was 394,800 units, down 3.99% YoY, and cumulative sales were 379,900 units, up 2.38% YoY. In March, NEV production and sales were 56,163 units and 57,577 units, up 18.91% YoY and 72.58% YoY, respectively.

1 hour ago

[SMM Tin Flash: CPCA Estimated That National New Energy Passenger Vehicle Wholesale Volume by Producers Reached 1.12 Million Units in March 2026, Flat YoY and Up 55% MoM from February]

The CPCA said today that in China’s passenger vehicle market, in February 2026, the wholesale sales of producers with new energy sales of more than 10,000 units accounted for 93% of total passenger NEV sales for the month. According to preliminary compiled data for March, the March sales of these enterprises with February new energy sales of more than 10,000 units reached 990,000 units. At present, sales figures for most producers had basically been locked in at a broad level. Some producers whose wholesale volumes were relatively low in February due to the Chinese New Year factor performed very well in March. Therefore, based on last month’s structural mix combined with this month’s data, March nationwide passenger NEV wholesale sales were estimated at 1.12 million units. In summary, based on preliminary monthly CPCA data: nationwide passenger vehicle producers’ new energy wholesale sales in March 2026 were estimated at 1.12 million units, flat YoY and up 55% MoM from February.

1 hour ago

2 hours ago

This Week’s Key Overseas Lithium News (March 30-April 3) [SMM New Energy Overseas Weekly Highlights]

2 hours ago