In the January-May period this year, production and sales of new energy vehicles (NEVs) in China amounted to 5.841 million units and 5.802 million units, up 2.5 percent and 3.5 percent year on year, respectively, according to the China Association of Automobile Manufacturers (CAAM). In the given period, NEV sales accounted for 47.5 percent of total new vehicle sales.
In May alone, production and sales of new energy vehicles in China amounted to 1.554 million units and 1.496 million units, up 22.4 percent and 14.4 percent year on year.
In May, China’s new energy vehicle exports totaled 446,000 units, up 1.1-fold year on year.
In the first five months this year, China’s new energy vehicle exports amounted to 1.833 million units, also up 1.1-fold year on year.
In May, China’s new energy vehicle sales to the domestic market amounted to 1.049 million units, up 14.8 percent month on month, while down 4.1 percent year on year.
In the first five months this year, China’s new energy vehicle sales to the domestic market totaled 3.97 million units, down 16.5 percent year on year.
The rise in production of NEVs has been slower than the increase in NEV sales. The market penetration of NEVs stood at 47.5 percent in the first five months, with almost one of every two vehicles sold being an NEV, and with NEV sales shifting from being policy-driven to being market-driven.
