EV sales continue surge as subsidies attract buyers
Sales of electric vehicles and plug-in hybrids jumped 33 percent year on year to 59,000 in June as car buyers took advantage of government subsidies.
EV deliveries rose for the third straight month after Beijing restored incentives earlier in the year, the China Association of Automobile Manufacturers said.
Automakers sold approximately 48,000 EVs and 11,000 plug-in hybrids in June, according to the association.
In the first six months, EV sales rose 14 percent from the same period last year to 195,000 vehicles. In the first half, 160,000 battery EVs and 35,000 plug-ins were sold throughout China.
Despite the recovery in demand, EV sales represented less than 1.5 percent of China’s total new-vehicle volume in the first six months.
Under a plan Beijing disclosed earlier this year for the domestic auto industry, annual EV deliveries are expected to account for 6.7 percent of China’s total vehicle sales by 2020.
The government expects to increase EV deliveries to 20 percent of total sales by 2025.
To achieve the targets, Beijing plans to introduce ambitious EV quotas in 2018 to goad automakers to expand the number of EV models and sales.
Automakers sold approximately 48,000 EVs and 11,000 plug-in hybrids in June, according to the association.
In the first six months, EV sales rose 14 percent from the same period last year to 195,000 vehicles. In the first half, 160,000 battery EVs and 35,000 plug-ins were sold throughout China.
Despite the recovery in demand, EV sales represented less than 1.5 percent of China’s total new-vehicle volume in the first six months.
Under a plan Beijing disclosed earlier this year for the domestic auto industry, annual EV deliveries are expected to account for 6.7 percent of China’s total vehicle sales by 2020.
The government expects to increase EV deliveries to 20 percent of total sales by 2025.
To achieve the targets, Beijing plans to introduce ambitious EV quotas in 2018 to goad automakers to expand the number of EV models and sales.
