Detailed sales stats for China in June, interesting explanation for why EVs underperformed vs the total market regarding YoY change.
"While the overall Chinese market returned to positive numbers in May (+7% YoY), plugins are still in red, being down 32% last month, to close to over 73,000 units.This PEV subpar performance is concerning, but because it might be connected to the incentives-related sales rush that happened around this same time last year, when they were cut towards the end of June, we will have to wait for July to see if growth returns by then, as it is expected, or if we are in for a lost year.Still, it was the best month this year regarding volumes, and that shows on May’s PEV share, with 4.4% (3.3% BEV), pulling the 2020 share by 0.1%, to 4.3% (3.3% BEV), which is still a step below from the 5.5% of 2019, but hopefully the second half of the year will bring the possibility to reach last year's score."
