BEIJING: Multiple Chinese electric vehicle (EV) enterprises reported an increase in sales during May, reflecting the remarkable performance of nation’s EV production and demand amid annual weak consumption period.
The surge of EV sales in May demonstrated its proportion was further expanded, and still has strong momentum in the form of policy support, Wu Shuocheng, a veteran automobile industry analyst, told the Global Times on Monday.
China’s Ministry of Commerce, Ministry of Finance and five other government departments on 26th April released detailed plan for auto-renewal and trade-in, which offers 7,000 to 10,000 yuan for scrapping old car then buying a new one.
Chinese auto maker BYD sold a total of 331,800 EVs in May this year, surging by 38.13 percent year-on-year, the company announced on Sunday, with total sales in 2024 surpassing 1.27 million units, up 26.8 percent year-on-year.
Chinese Geely’s EV brand Zeekr delivered a record 18,600 new cars in May, jumping by 115 percent year-on-year, and a 1
6 percent month-on-month increase, the company confirmed on Saturday.
Source: Emirates News Agency