On June 8th, the Federation released the national passenger car production and sales data for May 2020. In May, wholesale sales of 1.643 million units were 6.3% year-on-year and 9.4% month-on-month, the first positive wholesale growth in 22 months since July 2018. From January to May, the cumulative wholesale sales volume of 5.963 million units fell by 27.8% Year-on-Year and 2.29 million units.
In May, wholesale sales of new energy passenger cars were 702,000 units, down 25.8% YoY and 19.5% YoY in April. Among them, plug-in hybrid sales of 14,000 units, down 31% year-on-year. The wholesale sales of pure electric vehicles were 56,000 units, down 27% year-on-year.
Tesla hit 11,095 units in May and was the biggest bright spot in the new energy market in May. Cui Dongshu, secretary-general of the Association, said April was an anomaly, and that Sales levels in May were a relatively stable state for Tesla, with its strong product strength gaining consumer recognition in the Chinese market.
In May, the new force represented by NIO also became an important force in the new energy market, with THE wholesale sales of NIO in May of 3,436 units, entering the top 5 of the model sales ranking, according to the Association. Cui Dongshu said that with good product charm and innovative marketing model, the new force has gradually occupied a relatively dominant position in the new energy market, has been recognized by the middle and high-end market consumer groups.
For the development of the new energy market, Cui Dongshu believes that power, urban construction, finance, insurance and other multi-party coordination. Because this year’s outbreak led to a sharp decline in the profitability of auto companies, enterprises rely on their own profits to subsidize the ability of new energy significantly weakened, the need for the external environment for the better development of new energy vehicles to create markets and demand.