This year Chinese manufacturers will have serious troubles to fulfilling their plug-in car sales targets.
Plug-in electric vehicle sales in China slowed down and the decrease is already reflected in distance from the sales forecast.
Thanks to interesting data provided by Moneyball we can take a look at how much the plug-in car sales slowdown affected various New Energy Vehicle manufacturers.
As it turns out, manufacturers entered Q4 with relatively low progress toward targets - after nine months of 2019, they should be close to 75%, but just a few are above 50%:
- BYD - 45.86%
- Geely - 55.20%
- BAIC BJEV - 44.72%
- JAC - 61.29%
- GAC - 55.41%
- Chang' an - 36.31%
- Xpeng - 32.00%
- Weima - 10.90%
- NIO - 30.58%
- Hozon - 23.40%
- Leap Motor - 5.10%
Those results might be an indicator of potential upcoming financial troubles (NIO is already there), especially for those with not too deep pockets.
We guess that the world's biggest plug-in market will bounce up, but because of the new big investments from many manufacturers, often previously not that much engaged in Chinese NEVs or all-new startups, the competition will be fierce.