New-Energy Vehicle Sales Go Into Reverse

Caixin Global | Aug 13, 2019 at 5:00 PM
  • China’s new-energy vehicle (NEV) market is expected to contract for the rest of this year with the phasing out of government subsidies, analysts said, after the industry posted its first decline in more than two years in July.
  • Sales of NEVs — a category that includes pure electric and hybrid electric cars — fell 4.7% in July from a year earlier to 80,000 vehicles, the first decline since January 2017.
  • The handouts helped China pass the U.S. as the world’s largest electric car market in 2015.