China secured nearly 50% shares in global new energy passenger vehicle market

Shanghai (Gasgoo)- There is big difference between global new energy passenger vehicle sales trend and that of China market, according to Cui Dongshu, secretary-general of the China Passenger Car Association.

Cui pointed out that since China new energy vehicle market is developing and far from saturation, there is great fluctuation in our domestic NEV market. As to the global NEV market, many factors have effect on the sales trend.

Data from Cui, in 2017, the new energy passenger vehicle sales in China reached 576,247 units, increasing 68 percent year on year, which was much higher than the average growth rate of the global market. Relatively speaking, the new energy passenger vehicle sales in the USA saw a lower growth rate last year with a total volume of 197,535 units. The new energy passenger vehicle sales in Japan surged 238 percent to 140,093 units.

In terms of the vehicle power, there was little change in the structure. Hydrogen fuel cell vehicle still accounted for 0.3 percent as the year before while the sales of battery electric vehicle (BEV) and plug-in hybrid electric vehicle remained stable last year. Cui owed the balance to the different characteristics between China market and Japan market. China got more BEVs while Japan had more range-extended electric vehicles.

Last year, China secured 47 percent shares in the global new energy vehicle while those of the USA have been decreasing in the past four years, from 49.2 percent in 2014 to 16.2 percent in 2017.