Record Electric Vehicle Sales in December Amid Subsidy-Driven Surge in China - PRESS AI WORLD
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Record Electric Vehicle Sales in December Amid Subsidy-Driven Surge in China

share-iconThursday, January 02 comment-icon2 weeks ago 7 views
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Record Electric Vehicle Sales in December Amid Subsidy-Driven Surge in China

Credited from: SCMP

  • In December, **six major Chinese EV manufacturers** reported unprecedented sales, spurred by a nationwide buying surge before the end of a state subsidy.
  • The **20,000 yuan subsidy** for EV purchases drove a total of **10 million units sold** throughout the year, according to a Shanghai dealer.
  • **BYD** led sales with **514,809 units**, while **Nio, Xpeng,** and **Li Auto** posted significant increases in deliveries, marking historic monthly records.
  • Despite current successes, **experts warn** of potential declines in sales post-subsidy expiration, with consumer spending likely to decrease.
  • The **Chinese EV market** faces intense competition among numerous assemblers, leading to price reductions and the possibility of further **government incentives** in 2024.

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Gloria Terra

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