CPCA Predicts a Surge in NEV Sales in May, Despite Rising Raw Material and Car Prices

SHANGHAI, May 20(SMM) - Cui Dongshu, secretary-general of the China Passenger Car Association (CPCA), said that the increase in the price of raw materials and car prices is a temporary phenomenon in the auto market. This phenomenon is the result of external environmental influences. The new energy vehicle market is still in a situation where the supply is less than the demand. In contrast to traditional car companies who lower their prices, some new energy car companies who raised their prices said the current orders will sustain production for three months or even longer. Therefore, the impact of rising raw material prices and car prices on the auto market is relatively small.