Jan 2019 China NEV sales was growing at 138% comparing to last year. The major players are still the local auto makers, led by BYD. However, the Feb sales may not be as good as Jan due to Chinese New Year and pending subsidy reduction. But apparently, the NEV makers have managed to sell all their NEVs in their 4S showrooms. Once the subsidy reduction set in, we might see a huge increase in NEV sales due to the backlog orders and also consumers moving from short range to long range NEVs.
I think in two months, we will know how much growth the 2019 China NEV is going to achieve, whether 1.6 million like the auto analyst predicted or 2.2 million that I wished for.
The Hainan province will start the restriction on selling conventional autos in March.
AJM Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held
