Reuters, citing data from market research firm Rho Motion, reported that despite China's abolition of the 11-year-old new energy vehicle purchase subsidy at the end of 2022, China's new energy vehicle sales hit a record high in October and are expected to end the year with a strong performance in the last two months. According to the data company, 2023 will be another landmark year in terms of new energy vehicle sales in China.
"And the pace is accelerating!"
Bloomberg once wrote that China's success in the field of new energy vehicles is amazing. Last year, new-energy vehicles accounted for a quarter of all passenger car sales in China, far more than about a seventh in the United States and an eighth in Europe. And, incredibly, China's pace is accelerating.
With the continuous appearance of the national steady growth policy effect, coupled with local car purchase subsidies, promotional activities and other measures, this year China's auto market has gradually shown a good trend, data from the China Association of Automobile Manufacturers show that from January to October this year, China's new energy vehicle production and sales reached 7.352 million and 7.28 million, respectively, an increase of 33.9% and 37.8%. The market share reached 30.4%.
Martin Jacques, a well-known British scholar and China expert, said in an interview with the media that the Chinese government is quite far-sighted and knows the significance of the transition from fuel vehicles to electric vehicles, and encourages Chinese enterprises to conduct research and development and investment in the field of new energy vehicles. He said that although in the field of automobile manufacturing, China once lagged behind Japan, Germany, the United States and other countries, but in the past few years, China has developed rapidly in the field of new energy vehicles, has made extraordinary achievements.
Luca de Meo, CEO of Renault Group, also spoke at the Munich International Motor Show in September about