EV, plug-in hybrid deliveries remain hot despite holiday
Electric vehicle and plug-in hybrid sales surged 95 percent year on year to 34,420 vehicles in February behind government subsidies and despite the weeklong Chinese New Year holiday.
EV deliveries jumped 68 percent from a year earlier to 23,458 while plug-in hybrid sales soared 196 percent to 10,962, the China Association of Automobile Manufacturers said.
In the first two months, sales of EVs and plug-in hybrids totaled 74,667 vehicles, three times the tally in the same period last year. Over the two-month period, EV deliveries spiked 164 percent from the same period last year to 50,253 while plug-in hybrid volume shot up 315 percent to 24,414.
This year, the Chinese New Year holiday ran from Feb. 15-21. In 2017, it was observed from Jan. 27-Feb. 2.
Only domestically produced EVs, plug-ins and fuel cell vehicles are eligible for Chinese government subsidies. CAAM hasn’t disclosed sales of fuel-cell vehicles.
To ease heavy fiscal burdens resulting from the incentives, the Chinese government plans to phase out the subsidies for EVs and plug-in hybrids by 2020.
The government is set to enact a California-style carbon credit program next year to spur automakers operating in China to ramp up output of EVs, plug-in hybrids and fuel-cell vehicles.
In the first two months, sales of EVs and plug-in hybrids totaled 74,667 vehicles, three times the tally in the same period last year. Over the two-month period, EV deliveries spiked 164 percent from the same period last year to 50,253 while plug-in hybrid volume shot up 315 percent to 24,414.
This year, the Chinese New Year holiday ran from Feb. 15-21. In 2017, it was observed from Jan. 27-Feb. 2.
Only domestically produced EVs, plug-ins and fuel cell vehicles are eligible for Chinese government subsidies. CAAM hasn’t disclosed sales of fuel-cell vehicles.
To ease heavy fiscal burdens resulting from the incentives, the Chinese government plans to phase out the subsidies for EVs and plug-in hybrids by 2020.
The government is set to enact a California-style carbon credit program next year to spur automakers operating in China to ramp up output of EVs, plug-in hybrids and fuel-cell vehicles.
