The market for so-called new energy vehicles (NEVs) in China registered strong growth between January and April of this year, in contrast to the slow pace maintained by the automotive industry, in general terms, sources of the sector said.
According to data from the China Association of Automobile Manufacturers, in the first four months of the year some 360,000 NEV vehicles were sold, which represented an increase of 59.8% over the same period of 2018, while production also increased 58.5% year-on-year.
The entity said that sales of electric vehicles increased 65.2% between January and April this year, totaling 277,600 units, while the commercialization of hybrid cars recorded a rise of 43.66%, with 82,200 units, reported the news agency Xinhua
Last April, China sold 96,800 new energy cars, an increase of 18.15% year-on-year, while the production of NEV vehicles reached 101,600, which meant an increase of 25.03% over the previous year.
The favorable performance of the NEVs is the result of the Chinese government’s efforts to promote this market, offering tax exemptions and discounts on the purchase of automobiles to reduce pollution and promote green transportation.
Industry data also showed that the automotive sector remained broadly in a slow pace in the first four months of 2019, since total sales and production of automobiles fell 12.12 and 10.98% year-on-year, respectively.