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China: New energy vehicles take up over 50 pct of China's monthly auto sales for first time

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Storyline: New energy vehicles take up over 50 pct of China's monthly auto sales for first time [Voice_over] New data from the China Association of Automobile Manufacturers shows that of all the cars sold in the country during the month of October, more than 50 percent were new energy vehicles. The milestone is one of many for the country’s NEV market. From January to October of this year, the country produced around 13 million NEVs, a 33 percent annual increase, and sold around 12.9 million NEVs, a 32 percent increase year on year. Regarding exports, data shows during the same 10-month period, China shipped more than 2 million NEV units, representing a 90 percent increase from the same period last year. [Sound_bite] Chen Shihua, deputy secretary general, China Association of Automobile Manufacturing: "Since the start of this year, China's NEV market has been growing at a fast pace. On the one hand, the automobile trade-in program has been showing continuous, sufficient and broad effects, helping boost the fast growth of the NEV market. On the other hand, since the purchase tax on vehicles will be cut by half next year, some customers are buying cars ahead of schedule, resulting in a new round of consumption boom in the NEV market." [Voice_over] The CAAM data shows that the country’s total auto production and sales during January to October were both around 27.6 million units, for an increase of about 10 percent. [Restrictions: No access Chinese mainland]

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