China's new energy passenger car sales up nearly 80% in Dec

China's new energy passenger vehicle sales reached 226,000 units in December, up 76.9 percent year-on-year, according to data released by the China Association of Automobile Manufacturers (CAAM) on January 13.

China's full-year 2020 new energy passenger vehicle sales reached 1.246 million units, up 14.6 percent year-on-year.

The country produced 214,000 new energy passenger vehicles in December, up 88.3% year-on-year. For the year as a whole, 1.247 million new energy vehicles were produced, an increase of 11.3% year-on-year.

Production and sales of new energy passenger vehicles in China began to show growth in July, and each subsequent month set a new record for production and sales for the same period.

Analysts say Tesla's price cut more of a boost to China's new energy vehicle industry

CITIC Securities said market concerns about the ongoing price cuts for Tesla models will put a squeeze on other brands, but they see it as more of a boost to the new energy vehicle industry.

Tesla

Jan 3, 2021

In December, production and sales of all new energy vehicles were 235,000 and 248,000 respectively, up 55.7% and 49.5% year-on-year.

In 2020, the share of new energy vehicles in the Chinese market will reach 5.4%.

The CAAM expects 1.8 million new energy vehicles to be sold in 2021, up 40% year-on-year.

China's auto production and sales in 2020 will be 25.225 million and 25.311 million units respectively, down 2% and 1.9% year-on-year.

The CAAM expects that auto sales to exceed 26 million units in 2021, up 4% year-on-year.

Nio, Li Auto respond to China's new energy vehicle subsidy retreat

Nio said if customers pay the deposit on and before January 10, they can still purchase the car at the actual price in 2020, and the difference in the amount of national financial subsidies will be borne by Nio.

Nio

Dec 31, 2020