While the overall Chinese auto market returned to positive numbers in May (+7% year over year), plugins are still in the red and were down 32% last month, with close to 73,000 registrations.
Plugin vehicle sales continue to recover in China. They were still down 29% year over year (YoY) in April, but that was the smallest drop so far this year. Slightly more than 61,000 units were registered in April.
With the Chinese market slowly returning to normal, now that China has endured the first wave of the COVID pandemic, sales have started to recover from February’s fall into the abyss. In March they dropped just 51%, to around 60,000 units, a significant improvement from the 65% fall of the previous month.
With the Chinese electric vehicle (EV) market suffering from the general lockdown due to the coronavirus pandemic, sales took an expected beating, with only 15,000 passenger EVs registered in February, the worst result in over 3 years, representing a 65% drop year over year.
After the December sales peak, January signaled the expected sales hangover in China, but with some 49,000 passenger plug-in electric vehicles (PEVs), the numbers were worse than expected, as sales fell 50% year over year (YoY).
The Great Wall ORA R1 will have a range of about 140 miles and a starting price under $9,000 after incentives. Is is a Tesla Model 3? No, not by a long shot. But at less than half the cost it should appeal to a large number of buyers.
