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In the first half of 2017, the sales data of new energy vehicles will be less than 1/4 of the annual target
As per the latest statistics, in June 2017, China's production and sales figures for new energy vehicles stood at 65,000 and 59,000 units, representing a year-on-year growth of 43.4% and 33%, respectively. For the first six months of 2017, the cumulative production and sales reached 212,000 and 195,000 units, increasing by 19.7% and 14.4% compared to the same period last year. These numbers were released by the China Association of Automobile Manufacturers on July 11.
Breaking down the sales by vehicle type, new energy passenger vehicles accounted for 43,000 units in June, with 33,000 being pure electric cars and 10,000 being plug-in hybrids. Meanwhile, new energy commercial vehicles sold 16,000 units, comprising 15,000 electric vehicles and 1,000 plug-in hybrids. Over the first half of 2017, the total sales of new energy passenger vehicles reached 164,000 units, while new energy commercial vehicles sold 31,000 units.
In 2016, despite the end of the subsidy policy, China still achieved remarkable results, with production and sales surpassing the 500,000 mark, reaching 517,000 and 507,000 units, respectively. At the beginning of this year, Xu Yanhua, deputy secretary-general of the China Automobile Association, expressed optimism about the market, predicting that China's new energy vehicle sales could reach 800,000 units in 2017. However, with the first-half sales totaling 195,000 units, achieving this goal seems increasingly challenging.
The first-half sales performance has been described as a "mid-term exam," showing year-on-year growth but falling short of expectations. Historically, December 2016 saw a peak in sales due to consumers rushing to take advantage of expiring subsidies, with over 104,000 units sold. In 2017, the market has stabilized following several "fraudulent subsidy" scandals, leading to a more balanced monthly sales trend.
China remains steadfast in its commitment to the new energy vehicle industry, as emphasized by Vice Premier Ma Kai during the National New Energy Vehicle Promotion Conference on July 4. He highlighted the importance of coordination and innovation, reiterating the country's unwavering support for this sector. While policy support remains crucial, automakers will need to step up their efforts, and complementary infrastructure must be improved to drive future growth.
Looking ahead, the second half of 2017 holds significant potential, but achieving the ambitious sales target will require concerted efforts across the board.