CAAM reports significant growth of New Energy Vehicles (another term for all-electric and plug-in hybrids combined) in China for April.
Some 31,772 electric vehicles were sold during the month (while production stood at 31,266), which is nearly three timesmore than a year ago.
The majority of sales made in April were of the all-electric variety (nearly 24,000), mostly due to the way incentives and ease of registration surround the platform.
Despite the huge volume lead for all-electrics, BEVs are also growing much faster than PHEVs.
“According to the statistics made by CAAM, in April, the production and sales of new energy vehicles reached 31,266 units and 31,772 units respectively, increasing 178.3% and 190.6% year on year. To be specific, the production and sales of BEV reached 23,918 units and 23,908 units, increasing 227.9% and 243.8% year on year; and such figures for PHEV were 7,348 units and 7,864 units, increasing 86.5% and 97.6% year on year.”
If we check data for the first four months, it turns out that China has already exceed 90,000 sales this year, so by the time one is reading this report, it is likely that 2016 sales in China are just about to surpass the total EVs sold in the US for all of 2015(~116,099).
Of course, not all of those vehicles are full-size cars (there is significant portion of tiny EVs, as well as buses and commercial vehicles-more on that shortly), regardless of that, China is still the largest electric vehicle market in the world any way you slice.
“For the first four months, the production and sales of new energy vehicles reached 94,442 units and 90,529 units respectively, increasing 126.8% and 131.1% year on year. To be specific, the production and sales of BEV reached 70,552 units and 66,444 units, increasing 165.3% and 171.2% year on year; and such figures for PHEV were 23,890 units and 24,085 units, increasing 58.8% and 64.1% year on year.”