CATARC report - March 2019: NEV trends in China
New energy vehicle production exceeds 50,000 units and declines by 48.1% m/m in February
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 (excluding vehicles equipped with a lead-acid battery) in February 2019 declined by 48.1% month-over-month (m/m) and increased by 43.1% year-over-year (y/y). The reason production volume declined by about half from the previous month was due to the consecutive holidays during the Spring Festival. Production volumes of new energy vehicles in February for electric vehicles (EVs) and plug-in hybrid vehicles (PHVs) accounted for 74% and 26%, respectively, of the production share. By vehicle type, production volumes of passenger cars, buses, and special-purpose vehicles accounted for 96%, 3%, and 1%, respectively, of the share. EV production declined by four points from the previous month due to the effects from policies, such as reduction of subsidies.