Chinese Plug-in Electric Vehicle Market Increased Just 7% In April
The Chinese plug-in electric vehicle market has yet to fully recover from a disastrous start to 2017, but managed to improve EV sales by 7.9% over a year ago, according to the China Association of Automobile Manufacturers.
And while a 7.9% growth rate might be acceptable for some countries, China is/was looking for 800,000 total plug-in sales this year – so at this point, they need much, much larger gains.
Sales in April amounted to 34,361, bringing the cumulative total to 90,402 after the first four months; a number which is basically on par with 2016 when ultiamtely ~507,000 PEVs (including commercial vehicles and buses) were sold.
The bulk of April’s sales comes via all-electric vehicles: 28,570 in April (up 19%) and 72,895 YTD (up 9.7%), while plug-in hybrids fell by 27% to 5,791 and 17,507 YTD (down 27%).
source: Automotive News China