Sales of new-energy passenger vehicles in China amounted to over 92,000 units in May, up 140% year-on-year and up 30% month-on-month, according to wholesale data from China Passenger Car Association (CPCA) released on Friday the 8th of June.
In May, sales of pure electric passenger vehicles rose 130% from a year ago and stood at 73,072 units. Sales of plug-in hybrid electric passenger vehicles rose 199% from a year ago and came in at 19,161 units.
The A00 battery electric vehicles, a small-sized vehicle with relatively short driving range, recorded sales of 44,926 units in May, up 141% year on year. The sales accounted for 57% of overall sales of pure electric passenger vehicles, down 8 percentage points from April. But it has maintained its top popularity among buyers.
In the first five months of this year, sales of new-energy passenger vehicles stood at 280,635 units, up 140% year-on-year; sales of pure electric passenger vehicle and plug-in hybrid electric passenger vehicle came in at 207,416 units and 73,219 units, respectively.
China EV Subsidies
The government of Guangzhou in Northern China plans to provide local subsidies for pure electric vehicles (EVs) and plug-in hybrid EVs, at 50% of the state subsidy from July 1st, according to the government draft for public comments released on June 5th.
Overall subsidies, including state and local subsidies, will not exceed 60% of the vehicle’s sale price. Local subsidies for fuel cell EVs will not exceed 100% of the state subsidy.
Such local subsides are applied to EVs that are bought, registered and used across Guangzhou and that are on the national new-energy vehicle (NEV) recommendation list. Subsidies have to be returned if the vehicle is moved out of the region within three years.
Additionally, the government plans to apply special license plates to NEVs to promote the use of NEVs. Lower parking fee and tolls for NEVs are also under discussion.
Source: Shanghai Metals Market