China's new-vehicle market downturn extends; EV sales slip for 3rd straight month

Automotive news China

China's new-vehicle market has contracted for the 15th straight month, with sales declining 5.2 percent from a year earlier to 2.27 million in September, as the nation’s weakening economy continues to weigh on light vehicle demand.

Last month, new light-vehicle deliveries slipped 6.3 percent to around 1.93 million, according to the China Association of Automobile Manufacturers. Weak light-vehicle demand wiped out mild gains in sales of new commercial vehicles.

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In the month, deliveries of new commercial vehicles, including buses and trucks, gained 1.9 percent to around 340,000.

EV

For the first nine months, new-vehicle sales in China dropped 10 percent from a year earlier to approach 18.4 million. 

In the period, new light-vehicle deliveries fell 12 percent to roughly 15.25 million while new commercial-vehicle sales dipped 3.4 percent to 3.12 million. 

Demand for electrified vehicles slumped for the third straight month, after Beijing completed a new round of subsidy cuts for EVs and plug-in hybrids on June 25 with the goal to phase out the subsidy program by the end of 2020.

Last month, aggregate sales of full-electric vehicles and plug-in hybrids plunged 34 percent to approximately 80,000. The number includes some 63,000 EVs and around 17,000 plug-in hybrids.

For the first three quarters, total sales of electrified vehicles in China still jumped 21 percent to roughly 872,000. The tally includes some 692,000 EVs, 179,000 plug-in hybrids and 1,251 fuel cell vehicles. 

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