Announcement

Collapse
No announcement yet.

China's electric car market is recovering slowly

Collapse
X
Collapse
  •  

  • China's electric car market is recovering slowly

    ​​China's electric car market is recovering slowlyIn May, exactly 55,829 battery-electric cars and 14,370 plug-in hybrids from local production were sold in China. The sales figures for the so-called New Energy Vehicles were 25.8 percent lower than in the same month last year, but 19.5 percent higher than in April 2020.

    This is the result of statistical data from the China Passenger Car Association (CPCA). The decline in sales of electrified vehicles can be seen in the context of a general decline in car sales in China due to the pandemic. Of the BEVs sold in May, 54 percent were from China's own brands, the remaining 46 percent from foreign brands and joint ventures. The Chinese own share of PHEVs in the market was around 30 percent.

    The best-selling electrified model in May was the Tesla Model 3: The CPCA statistics show 11,095 units of the locally manufactured American e-sedan sold in China. That is a good three times as many as in April (3,635). However, Model 3 sales in April were also down sharply compared to March (10,160). Tesla itself may have contributed to the new high with a price cut for the Model 3 Standard Range announced at the end of April. After an amendment to the NEV funding ratesthe Model 3 would have been removed from the Chinese subsidy list at its original price of 323,800 yuan. By lowering the price below the newly defined limit of 300,000 yuan, the standard version of the electric sedan now remains eligible. By the way, Tesla also slimmed down 20,000 yuan for the long-range version of the Model 3.

    In the meantime, the health crisis from spring is still noticeable among China's large electric vehicle manufacturers: local hero BYD sold 11,325 electric cars and plug-in hybrids in China last month, a whopping 48.3 percent less than in the same month last year and also 12.9 percent less than in April. Geely sold 6,101 electrified vehicles in the same period - without comparative value from the previous year. It is a fact, however, that the Geely Group faces a 25 percent decrease in total car sales between January and May due to the corona virus.

    Meanwhile, good news comes from Nio: The Chinese electric car manufacturer delivered 3,436 electric cars to its home market in May, more than in any month before. According to the company, this corresponds to growth of 215.5 percent year-on-year. Specifically, Nio delivered 2,685 copies of the ES6 and 751 copies of the ES8.


    autonews.gasgoo.com (sales figures), caixinglobal.com (Tesla Model 3), autonews.gasgoo.com (BYD), autonews.gasgoo.com (Geely), ir.nio.com (Nio)
      Posting comments is disabled.

    Article Tags

    Collapse

    Latest Articles

    Collapse

    • VW announces ID.3 delivery for early September
      by Florida
      The start of the order on June 17 was already known, at the start of delivery of the ID.3 there was no precise information so far - not only because of the software problems. According to Volkswagen, the final schedule is now set.


      Relatively exactly one year after its premiere at the IAA 2019 , the first copies of the ID.3 are to be delivered to pre-orders. Initially, these are only 1st edition vehicles. When pre-ordering, these customers had already paid a reservation fee of...
      06-10-2020, 06:13 PM
    • Renault increases manufacturer share
      by Florida
      ...
      06-10-2020, 06:13 PM
    • Tesla will submit amended application documents
      by Florida
      ...
      06-10-2020, 06:12 PM
    • China's electric car market is recovering slowly
      by Florida
      In May, exactly 55,829 battery-electric cars and 14,370 plug-in hybrids from local production were sold in China. The sales figures for the so-called New Energy Vehicles were 25.8 percent lower than in the same month last year, but 19.5 percent higher than in April 2020.

      This is the result of statistical data from the China Passenger Car Association (CPCA). The decline in sales of electrified vehicles can be seen in the context of a general decline in car sales in China due to the pandemic....
      06-10-2020, 06:12 PM
    • Hyundai and Kia want to increase efficiency with heat pumps
      by Florida
      In 2014, the first heat pump was used by Hyundai-Kia in the Kia Soul EV. Since then, the Koreans have continued to develop the technology - and now provide some new insights into the development with which the range of electric cars is to be improved under all climatic conditions.


      The principle of the heat pump is very simple: Instead of using electricity from the drive battery and a heating element to heat the interior, the system uses the waste heat from other components in...
      06-10-2020, 06:11 PM
    • Peugeot 3008: next generation also as BEV?
      by Florida
      ...
      06-07-2020, 04:09 PM
    Working...
    X