EV Sales in China Are 142 Percent Higher than Same Time Last Year

Data from the China Association of Automobile Manufacturers (CAAC) revealed that in May 2018, 96,000 electric vehicles (pure electrics and hybrids combined, comprising what the Chinese government and media refer to as “new energy vehicles”) rolled off assembly lines, while 102,000 units were sold, increases of 85.6 percent and 125.6 percent, respectively, over the same period last year. Production of pure electrics reached 77,000, while sales amounted to 82,000 units, increases of 75.9 percent and 112.8 percent year-on-year. Chinese automakers produced 19,000 plug-in hybrids and sold 20,000 units, up 138.8 percent and 196.8 percent.

Related: China Strives to Speed Up Development of EV Charging Stations

For the five-month period, from January to May, both the production and sales of EVs reached 328,000 units, increases of 122.9 percent and 141.6 percent, respectively, year-on-year. Automakers produced and sold 250,000 pure electrics, increases of 105.1 percent and 124.7 percent. They manufactured 79,000 and sold 78,000 hybrids, up 207.3 percent and 218.4 percent. Based on these figures, China expects to achieve more than one million units in both production and sales of EVs for the full year of 2018, said Chen Shihua, Assistant General Secretary of CAAC.

Related: How California Taught China to Sell Electric Cars

The Chinese government plans to gradually reduce subsidies for EVs by 2020. The decline in subsidies and changes in policy are also challenging EV manufacturers. In 2017, the net profit of listed electric vehicle makers across the country was generally much lower than that of the previous year. Anhui Ankai Automobile, Haima Automobile, Beiqi Foton Motor, Zhongtong Bus, JAC and Great Wall Motor saw a year-on-year decline of more than 50 percent in net profit last year. Anhui Ankai Automobile and Haima Automobile suffered losses.

Since the beginning of 2018, China’s EV makers have maintained relatively solid growth, however, profits are expected to take a hit as subsidies drop.

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Nanjing Shanglong Communications Liu Yuanyuan is Director of Operations and Co-Founder of Nanjing Shanglong Communications. Liu Yuanyuan previously held the position of office manager at the London Financial Times' China translation and editorial bureau in Nanjing overseeing 33 translators, editors and IT support personnel. Ms. Liu brought her many years experience of delivering, under deadline, more than 200 English-language news summaries of articles selected from Chinese-language newspapers and newswires daily as well as supervising the timely completion of 500,000+ word English-to-Chinese translation and localization projects to her role as co-founder and general manager at Shanglong. Ms. Liu joined Shanglong in 2002. In 2006, she added China Business News Service to the product suite – the service provides a continuous flow of well-researched and documented news articles to trade publishers and industry-specific websites looking to supplement their content with the latest news from China in their sector. She manages Shanglong's staff of translators, editors, desktop publishing specialists and support staff, selected from the top universities across China and well versed in the art of translation and in the technology of DTP. Ms. Liu graduated from the People’s Liberation Army Institute of International Relations - China’s elite military academy responsible for the training of the country’s foreign language specialists.

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