CATARC report - October 2014: New Energy Vehicle trends in China
Over 10,000 new energy vehicles produced in September, setting new record
Production volumes in China (Summary)
This report is based on a report by Beijing CATARC Automotive Technology Development Company*;
MarkLines has edited and translated the company's report to prepare this report. Click here for a list of CATARC reports.
Fig. 1 Production volume of electrified vehicles by vehicle type
(January to September 2014)
Production volume of electrified vehicles in China increased by 86.4% month-over-month (m/m) to 11,513 units (includes some lead-acid battery equipped electric vehicles [EVs] and foreign automakers’ passenger hybrid vehicles [HVs]) in September 2014. The reason for the expansion of production is because the Chinese government implemented the acquisition tax exemption policy for new energy vehicles; therefore; automakers enhanced their production. As for the breakdown, production volume of EVs and plug-in hybrid vehicles (PHV) was 10,925 units (of which production volume of passenger EVs that were equipped with lead-acid batteries was 873 units and that of specialty vehicles was 83 units), and production volume of HVs was 586 units. Production volume of EVs and PHVs increased by seven-fold year-over-year (y/y) and doubled m/m; production volume exceeded 10,000 units for the first time in a single month. Looking at the production volume of electrified vehicles by vehicle type in September, production volume of passenger cars was 7,387units with a market share of 64.2%, production volume of buses was 3,961 units with a share of 34.4%, and production volume of specialty vehicles was 163 units with a 1.42% share. Production volume of EVs and PHVs in the January to September 2014 period exceeded 53,000 units.