Thanks to the extension of the subsidiary policy of new e

Thanks to the extension of the subsidiary policy of new e

energy vehicles (NEV), sales of NEVs reached 111,000 in March, up 100.9 percent year-o

n-year, with NEV wholesales accounting for 254,000 units in the first quarter.

CPCA predicts a 40 percent increase in NEV sales to 1.7 million

units in 2019, based on these first quarter figures.

As China began to cut manufacturing sector VAT from 16 to 13 percent on April 1, som

e imported and high-end vehicle brands lowered prices to boost sales nationwide.

As the industrial chain of domestic-made goods are comparatively longer than that of imports howe

ver, most domestic manufacturers have not lowered prices for goods, including automobiles.

“Consumers should not expect too much on price cuts of automo

biles, but choose vehicles based on demand and affordability,” CPCA said.

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