CATARC report - October 2016: New energy vehicle trends in China
New energy vehicle production in September recovers to over 40,000 units
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 new energy vehicles (electric vehicles [EVs], plug-in hybrid vehicles [PHVs], and fuel cell vehicle [FCVs]; excluding vehicles equipped with lead-acid batteries) in September 2016 increased by 13.2% month-over-month (m/m) and by 32% year-over-year (y/y) to 43,744 units. By vehicle type, passenger cars accounted for 73% (slightly declined from the previous month) of the new energy vehicle production share and buses accounted for 24%. Growth rate of special-purpose vehicles was the highest, exceeding 1,000 units; however, production volume did not reach the 3,000 units of the same month in the previous year.
Since production volume of new energy vehicles in the January to September 2016 period was approximately 269,300 units, it is expected that 2016 annual production will exceed 400,000 units. Passenger cars have accounted for approximately 70% of the new energy vehicle production share each month, leading the new energy vehicle market.
Fig. 1 Production volume of new energy vehicles (Apr. 2016 to Sep. 2016)