Growth Returns To EV Sales In China, Up 55% In February
Plug-in electric vehicles sales in China have returned to a more typical growth pattern in February, after a total faith-based collapse in January.
EV Sales Blog counted around 16,875 registrations in the country for the month, which is a sturdy 55% more than year ago.
With that said, the sales environment was still strongly (and adversely) affected most of the month by a new requirement that all plug-in vehicles need to be re-approved for subsidy eligibility (after the government discovered scams in false NEVs sales last year).
Thankfully in late February (and about ~8 weeks too late), the government issued a second plug-in vehicle eligibility list for 2017 that included most of the major players, like from Chongqing Changan Automobile, Guangzhou Automobile Group, BYD and SAIC Motor Corp., which definitely helped save the month’s result.
However, only 386 NEVs were listed on the new list (just more than half from 713 year ago) – so that’s enough to reduce the growth potential somewhat going forward, or at least until those other brands can better prove viability.
For example BYD, often above 10,000 sales in 2016, ended January wigh less than 500 plug-in car sales. Approval in February improved the result, but still only to less than 2,000. Hopefully with the red tap sorted out, March will be finally hurdle-free.
Editor’s Note: despite the sales hiccup, China is still targeting a 70% gain in passenger EV sales this year, and targets to have 800,000 new plug-ins (including e-buses) sold in 2017. To even come close to this number, we should shortly be seeing some huge sales numbers out of the region.