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Expected March New Energy Vehicle Sales To Rise

CHINA PRESS

Consumer’s are expected to have purchased around 750,000 new energy vehicles in March, up 37.1% y/y and 93.2% m/m, as price cuts for EVs after the Chinese spring festival spurred demand, according to the Passenger Car Association. The narrow passenger car market in total sold 1.65 million units, a slight increase of 3.7% y/y, the association added. Customers remain cautious overall due to the ongoing price war and implementation of old-for-new policies, which has hampered demand. (Source: Yicai)

MNI Beijing Bureau | lewis.porylo@marketnews.com

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