The Chinese market is dropping so fast that there is no chance to see a positive result in global sales.
There is no good news from the Chinese plug-in market, which not only still shrinks, but the rate of decline accelerates since the government significantly cut incentives in June*.
According to the EV Sales Blog, in October, sales of passenger plug-ins decreased by 46% year-over-year to 67,389, which puts it on par with 2017. BEVs were down by 47%, while PHEVs by 46%.
As the overall car market decreased by 6%, plug-ins are losing market share - 3.5% in October.
Some hints suggest that besides subsidies, the plug-in market is affected by waiting on the Chinese-made Tesla cars. It might be the case that customers are willing to wait also for other brands, which announced some new first BEVs. Only time will tell whether that is the case.
Plug-in electric car sales in China – October 2019
After ten months of 2019, sales stand at over 943,000 - up 25% year-over-year (the average market share is 5.5%).
In October, our attention was attracted especially by the new GAC Aion S, which with 4,217 sales set its sixth consecutive monthly record.
Top for the month:
- BAIC EU-Series - 7,623
- Baojun E-Series – 4,636
- GAC Aion S - 4,217
- BYD Yuan/S2 - 3,227
- BMW 530Le plug-in hybrid - 2,764
Top 20 for the year:
Source: EV Sales Blog
* Since June 26, 2019:
- No more subsidies for New Energy Vehicles with a range below 250 km (155 miles) NEDC
- halved subsidies for higher range models