China's NEV market may contract this year due to subsidy cut: industry association

FILE PHOTO: A carrier trailer transports newly manufactured cars at a port in Dalian, Liaoning province, China May 21, 2019. REUTERS/Stringer/File Photo

Chen Shihua, assistant secretary general at China Association of Automobile Manufacturers , made the comment on Monday after the association reported that sales of NEVs fell 45.6% in October from year-ago levels, following a 33% decline in September. China has been a keen supporter of NEVs and has implemented sales quota requirements for automakers. But it cut subsidies for NEVs this year as part of an overall plan to reduce subsidies, making the vehicles costlier.

EVs Are more costly without government intervention a waste of taxpayer dollars

Stop blood transfusion to dictators! They use it against their own ppl.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China-U.S. trade war to ease but conflicts will persist - former finance ministerA Sino-U.S. trade war could ease somewhat but wider conflicts between the world&... BeٍrlinWall30 SَpringDay1000Days SًaturdayThoughts saٍtchat ThَankYouGameFreak Caٍturday CٌHECRY StِarshipProtectMonstaX7 LoُrdMayorsShow Caٌturday SّaturdayThoughts BْerlinWall30 TَhankYouGameFreak SpُringDay1000Days SًtarshipProtectMonstaX7 sٌatchat CHَECRY LoٌrdMayorsShow
Source: Reuters - 🏆 2. / 97 Read more »