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China NEV sales growth slows in first 11 months

Updated: Dec 11,2019 06:53    Xinhua

BEIJING — China's new energy vehicle (NEV) sales and output posted slower growth in the first 11 months of 2019 amid broader downward pressure, industry data showed on Dec 10.

The country saw a total of 1.04 million NEVs sold from January to November, up 1.3 percent year-on-year, while production rose 3.6 percent to 1.09 million units, data from the China Association of Automobile Manufacturers showed.

In November, NEV sales slumped 43.7 percent, while production dropped by 36.9 percent.

The broader automobile sector saw a mild uptick as production increased by 3.8 percent year-on-year to hit 2.59 million units in November while sales dropped 3.6 percent from a year earlier to 2.46 million units, narrowing from the 4.1-percent decrease in October.

The rebound reflected companies' willingness to add to their inventories after months of destocking, showing market confidence, the association said in a statement.

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