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%
More from China
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.
