Quick Look At New Energy Vehicle Sales In China Through August 2018
China now has more than 2.3 million plug-in vehicles
According to the China Association of Automobile Manufacturers (CAAM), during the first eight months of this year, already more than 600,000 New Energy Vehicles (all-electric and plug-in hybrids – cars, buses, trucks, etc.) were sold.
Monthly sales exceed 100,000 in August (and May) and probably will move towards 200,000 by the end of this year.
“In August, the production and sales of new energy vehicles reached 99 thousand units and 101 thousand units respectively, increasing 39% and 49.5% year on year. To be specific, the production and sales of BEV reached 72 thousand units and 73 thousand units, increasing 24.2% and 31.7% year on year; and such figures for PHEV were 27 thousand units and 28 thousand units, increasing 102.3% and 130.8% year on year.”
More than 600,000 sales in the first eight months enabled China to reach a cumulative result of over 2.3 million.
In 2018, China is expected to note NEVs sales well above 1 million (probably around 1.2 million).
“For the first eight months, the production and sales of new energy vehicles reached 607 thousand units and 601 thousand units, increasing 75.4% and 88% year on year. To be specific, the production and sales of BEV reached 455 thousand units and 447 thousand units, increasing 60.2% and 71.6% year on year; and such figures for PHEV were 153 thousand units and 154 thousand units, increasing 144.2% and 159.7% year on year.”
Plug-in hybrid sales note slight, stable growth, while all-electric changes dramatically depending on season and changes in incentives.
Most of the New Energy Vehicles are all-electric:
One more look at the first eight years of the early-stage of the EV revolution in China: