On the morning of February 23, Canalys’ latest research data showed that 1.3 million electric vehicles were sold in the Chinese market in 2020, an increase of 8% year-on-year and accounting for 41% of global electric vehicle sales. Canalys predicts that 1.9 million electric vehicles will be sold in China in 2021, an increase of 51%, accounting for 9% of total vehicle sales in China.
Canalys vice president Sandy Fitzpatrick said that electric vehicles accounted for only 6.3% of China’s total passenger car sales in 2020, and will usher in growth in the coming years.
The following is the full text of the Canalys report:
In 2020, 1.3 million electric vehicles were sold in the Chinese market, an increase of 8% year-on-year, accounting for 41% of global electric vehicle sales.
China will sell 1.9 million electric vehicles in 2021, an increase of 51%, accounting for 9% of China’s total car sales.
According to Canalys’ latest research data, a record 1.3 million electric vehicles will be sold in the Chinese market in 2020. However, the year-on-year growth rate is relatively average, only 8%. In contrast, the sales of electric vehicles in the global market surged 39% in 2020.
Canalys has written a new digital report “Electric Vehicle Prospects: 2021 and beyond”, which released detailed electric vehicle sales data, forecasts and analysis in the global market, focusing on several major markets including China.
The Chinese government has been actively supporting the transition to electric vehicles. However, in recent years, several changes in policies related to electric vehicles and consumer subsidies have disrupted the market, making it difficult for automakers to form a sales momentum. Chris Jones, chief analyst of the Canalys automotive industry, said: “The biggest highlight of China’s electric vehicle market in 2020 is the two cars, namely the Tesla Model 3 made in China, and the joint venture SAIC-GM jointly established by SAIC, GM and Wuling. The Hongguang MINI electric car launched by Wuling. The former car was the market leader in the first half of 2020, and the latter car was the market leader in the second half of 2020. It was only launched in the middle of last year. If it weren’t for these two models were completely different China’s electric vehicles were a great success, and China’s electric vehicle market would have fallen in 2020. Together, these two electric vehicles account for one-fifth of the total electric vehicle sales in the Chinese market.
Roger Castellanos graduated with a degree in Economics. He is a writer, analyst, and local critic. He has written many articles for top newspapers. With all his experience, Roger recommends a famous phrase: “Writing is kind of like running — anyone can do it, but your results will vary mostly based on practice.” Roger reports on the News sector.
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