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China takes up 45% of global new energy PV sales during past four months

Shiny From Gasgoo| June 01 , 2018

China auto market news, China new energy passenger vehicle shares

Shanghai (Gasgoo)- During the first four months in 2018, China accounted for 45% of global new energy passenger vehicle sales. The total sales of global new energy passenger vehicles reached about 430,000 units with a steep rise of 52% year on year. Thanks to the policy impetus and market momentum, deliveries in China reached nearly 200,000 units, soaring 131% over the previous year. Driven by policy and market, China saw sales boost in the first four months. With robust production volume and cost-effective prices of new models, Chinese new energy passenger vehicle market has potential to get rid of subsidies and see independent development.

China took up 39% shares of global new energy passenger vehicle sales in the first three months. In April, the shares increased to 61%, indicating China still maintains the potential to be NO.1 in global new energy vehicle market share. 

The combined sales of other countries excluding China reached about 230,000 units, jumping 18% form a year earlier in the first four months of 2018. In terms of major countries, U.S. and Germany enjoyed balanced average growth between 20% and 30%. However, Japan and Norway suffered sales decline during the first four months.

China enjoyed continued shares growth in new energy vehicle sales. In 2016 and 2017, China accounted for 45% and 47% of new energy vehicles' global sales respectively. In the last quarter of 2017, the shares even grew to 59%. China saw sharp shares growth during January and April, while other countries suffered share decline. In particular, Japan's advantages in new energy vehicle sector has slowed down temporarily.

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