China's EV sales double, still miss targets
Despite generous subsidies, Chinese consumers purchased only 11,375 electric cars last year -- double the number sold in 2011, but far short of government targets.
Sales of electric cars rose 99 percent year-on-year, according to the China Association of Automobile Manufacturers.
Automakers in China also sold 1,416 plug-in hybrid powered vehicles, the association noted.
Vehicle inventories appear to be in line with sales. Automakers in China produced 11,241 EVs and 1,311 plug-ins, according to the trade body.
But it seems unlikely that automakers will meet the sales target set last April by China's State Council, which aims for cumulative sales of 500,000 EVs and plug-ins by 2015.
Under the existing subsidy program introduced in 2010, Beijing offers subsidies up to 60,000 yuan ($9,677) for an electric car and 50,000 yuan for a plug-in vehicle in Shanghai, Hangzhou, Hefei, Shenzhen and Changchun.
Automakers in China also sold 1,416 plug-in hybrid powered vehicles, the association noted.
Vehicle inventories appear to be in line with sales. Automakers in China produced 11,241 EVs and 1,311 plug-ins, according to the trade body.
But it seems unlikely that automakers will meet the sales target set last April by China's State Council, which aims for cumulative sales of 500,000 EVs and plug-ins by 2015.
Under the existing subsidy program introduced in 2010, Beijing offers subsidies up to 60,000 yuan ($9,677) for an electric car and 50,000 yuan for a plug-in vehicle in Shanghai, Hangzhou, Hefei, Shenzhen and Changchun.
