AutoBeta(AutoBeta.net)10/14 Report--

On October 14, according to the automobile production and sales data released by the China Automobile Association in September 2019, the production and sales of new energy vehicles reached 89000 and 80000 respectively in September this year, down 29.9% and 34.2% respectively from the same period last year. From January to September, the production and sales of new energy vehicles were 888000 and 872000, up 20.9% and 20.8% from the same period last year, which was significantly lower than that of the same period last year.

The decline in sales for three consecutive months compared with the same period last year is mainly due to the decline of new energy subsidies. Overall, China's automobile production and sales in September were 2.209 million and 2.271 million respectively, down 6.2 per cent and 5.2 per cent respectively from January to September, while car production and sales were 18.149 million and 18.371 million, down 11.4 per cent and 10.3 per cent from the same period last year.

The China Automobile Association said that judging from the September data, the rate of decline in September narrowed, mainly due to a low base last year. In the second half of this year, the car market gradually picked up, but the extent and speed of the recovery did not meet expectations, and it is predicted that the car market will decline by more than 5% this year.

Specifically, pure electric vehicle sales in September were 63000, down 33.1% from the same period last year; plug-in hybrid vehicle sales were 17000, down 38.4% from the same period last year; in the first three quarters, pure electric vehicle sales totaled 692000, up 27.8% from the same period last year; plug-in hybrid vehicle sales were 179000, down 0.8% from the same period last year

In terms of monthly sales, sales of new energy vehicles began to decline after reaching 152000 in June, falling to 80, 000 in July, down more than half from a month earlier, rebounding to 85000 in August and returning to 80, 000 in September.

Xu Haidong, assistant secretary-general of the China Automobile Association, said that due to the implementation of stricter vehicle emission standards, some fuel models with greater concessions have taken away the market of new energy vehicles, causing a certain impact on new energy vehicles. On the other hand, due to the decline of subsidies, the losses of car companies have further increased, and their enthusiasm for producing new energy vehicles has decreased, and they have not given up producing new energy vehicles more in order to meet the requirements of double points or corporate strategy. I didn't really put my energy into new energy vehicles.

With regard to the decline in sales of new energy vehicles for three consecutive months compared with the same period last year, Xu Haidong, assistant secretary general of the China Automobile Association, believes that, on the one hand, because of the five countries and six countries, some fuel vehicle concessions have greatly taken away the customers of new energy vehicles. On the other hand, after subsidizing the slope, the enthusiasm of automobile companies to produce and promote new energy vehicles on a large scale in the short term is decreasing.

At the beginning of this year, the China Automobile Association predicted that the sales of new energy vehicles would reach 1.6 million in 2019. However, after the decline of new energy subsidies, the sales of new energy vehicles halved, and the China Automobile Association reduced its sales target to 1.5 million. In terms of current sales, only 58.13% of the annual sales target has been achieved, which is still a long way from the annual sales target.

However, there is still a certain degree of confidence in the uncertain new energy vehicle market. On the one hand, most cities are actively introducing new energy vehicles, relevant national departments are also issuing relevant policies to promote the development of new energy vehicles, and major car companies have also accelerated the development of new energy vehicles. On the other hand, as the future development trend of new energy vehicles, Chinese consumers are gradually accepting new energy vehicles.

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