Sales growth of Chinese new energy PVs in first two months triples that of globe to 159% year on year

Shanghai (Gasgoo)- The China Passenger Car Association (CPCA) revealed on Apr. 3 that sales of Chinese NEV passenger vehicles soared 159% year on year to 61,000 units in the first two months this year. The global deliveries of NEVs reached 164,000 units with a YoY surge of 47% during the first two months this year.

As is analyzed, it is normal that China saw robust sales growth in the first two months because January and February are great period to deliver NEVs. In March, the prices of NEV models which were newly released turned to be more cost-efficient. Chinese NEVs showed a trend of shaking off the influence of subsidy policy and developing independently.

Chinese NEVs performed increasing well in the global NEV market. In 2016, Chinese NEVs accounted for 45% share of global NEV market. And the figure rose to 47% in 2017. During the first two month of 2018, the figure was 37%, jumping 16% compared to the same period last year. However, other major countries saw shrink of their NEV market shares in the first two months of this year.

In terms of pure electric vehicle segment, Chinese pure electric passenger vehicles took up 47% share of global pure electric vehicles in the first two months this year, up 12% year on year. CPCA expected that China will see a robust sales growth of NEVs in 2018.