China's NEV Sales Nearly Doubled in June as Buyers Eyed Subsidized Bargains
Zhang Yushuo
/SOURCE : yicai
China's NEV Sales Nearly Doubled in June as Buyers Eyed Subsidized Bargains

(Yicai Global) July 11 -- China's new energy vehicle sales almost doubled from the previous year in June ahead of this month's subsidy cut as consumers hunted for discounted prices in a market that logged its first growth in a year.

Sales of electric passenger vehicles rose to 134,000 units, the China Passenger Car Association said in a report published yesterday. That of fuel cell cars dropped 8 percent last month. 

More people bought in June because the government greatly reduced subsidies for NEV purchasers this month, said Cui Dongshu, secretary-general of the CPCA.

The sales volume of all passenger cars rose 5 percent to 1.8 million units last month, which was the first growth seen in 12 months. This also was a 12 percent increase from the previous month, which was the largest of May-June jump since 2000.

Car companies have increased their investment in NEVs and these sales have gradually grown to make up 9 percent of the total car market, Cui said. In the first half, sales of electric passenger vehicles rose 65 percent to 570,000 units. Pure electric cars made up nearly 80 percent of the total.

Editor: Emmi Laine

Follow Yicai Global on
Keywords: NEVs