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China Cuts Subsidies: Green Cars Sales Drop 34%

Financial Times

Purchases fell for third consecutive month following government cuts to subsidies

Image result for China electric cars sales September 2019

New energy vehicle sales in China, the world’s largest car market, fell for the third month in a row as a slowdown in the overall market expands to electric vehicles following cuts in government subsidies.

Sales of NEVs — which include hybrids and fully electric cars — sank 34.2 per cent in September from a year earlier, according to the China Association of Automobile Manufacturers….

Changes to the subsidy regime, announced in March, that limited support to only a handful of top-performing marques, have raised doubts about the longevity of a number of Chinese electric carmakers.

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