CATARC report - November 2015: New Energy Vehicle trends in China
October production breaks record again due to early year-end sale
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.
Production volume of electrified vehicles in October 2015 in China increased by 51.1% month-over-month (m/m) and by 5-fold year-over-year (y/y) to 52,838 units (498 passenger EVs and 13 special-purpose vehicles, both equipped with lead-acid batteries, were included). Of the 52,838 units, production volume of electrified vehicles that were not equipped with lead-acid batteries was 51,295 units. Monthly production exceeded 50,000 units for the first time. Production volume in October 2015 increased because the year-end sale started early. Due to the early year-end sale, the outlook for early 2016 is that production volume will decline.
By vehicle type, total production volume of new energy buses (electric and plug-in hybrid buses) and special-purpose vehicles accounted for 20 to 30% of the electrified vehicle production share in the first half of 2015. Production share hovered around 40% in the past few months. In the policy for the prevalence of new energy vehicles, the government set a target that it planned to meet. The deadline is nearing; therefore, production of new energy commercial vehicles has increased.
Fig. 1 Production volume of electrified vehicles (May to Oct. 2015)