China NEV Market
China expected to introduce new policies to boost rural car consumption in early June, report says
China will encourage consumption by rural residents of cars priced at less than 150,000 yuan ($22,230), including ICE vehicles and NEVs, according to local media.
Further Reading: A panoramic view of China's automotive supply chain
This is the best analysis we have seen of the Chinese automotive supply chain and what impact Covid has had.
China to issue new policies to boost car consumption in rural areas as soon as this month, report says
A new round of policies to boost auto consumption in rural areas will be released soon, possibly as soon as this month, Cailian reported.
China's April NEV sales at 299,000 units, down 38% from March, CAAM data show
Compared to the NEV market, China's overall auto market performed worse in April, with sales down 47.1 percent from March.
Guangdong introduces new measures to encourage consumption, including NEVs
On top of state subsidies, Guangdong will offer additional subsidies to consumers who purchase NEVs.
China will push NEV material prices to return to rationality as soon as possible, official says
China will accelerate the development of domestic resources, crack down on hoarding and other unfair competition, and push raw material prices to return to rationality as soon as possible, the MIIT spokesman said.
Covid brings about 20% loss to China's auto production, CPCA secretary general says
In April, production and sales in China's auto industry continued to face uncertainty, the CPCA said.
China's NEV sales rise 114% year-on-year to 484,000 units in March, CAAM data show
China's auto industry is facing higher costs and a lack of consumer momentum, but production and sales of NEVs have continued their rapid growth, the CAAM said.
Price hikes have manageable impact on NEV demand in China, analysts say
Demand remains firm as consumers expect EVs to continue to rise in prices, with waiting times generally at 2-3 months, according to a team of local analysts.
Beijing aims to have 2 million NEVs by 2025
At the end of 2020, Beijing had 400,000 NEVs.
