China EV car production down 56% and their economy is starting to shrink.
China overall vehicle (ICE & EV's) sales down 10.3% for first 9 months of 2019 y-o-y. EV's sales up 20.8% over same period. ICE sales have retreated by 4.5 mill units from peak of 2017, meanwhile EV's have taken market share from ICE, 2.7% in 2017, 4.5% in 2018 and likely to be 6.25% by year end.
So EV's have grown their market share by 131% from 2017 through 2019 YTD, while ICE is off 16.1% from 2017 peak, which from my perspective, EV's are quietly feasting on ICE demise, albeit at a slower pace in 2019, due to slowing economy, trade war, etc, as you mentioned.
Good News & Bad News, page-2294
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