New energy vehicles are a quickly growing segment of China’s auto market. Last month, sales more than doubled from a year earlier, far exceeding the 8-percent rise in overall automobile sales. So what’s behind the sales surge?
The Hongguang Mini EV by Wuling has been the best-selling electric vehicle in China for the last three months.
With no safety airbags, optional air-conditioning and a driving range of under 200 kilometers, the tiny new model has been snowballing in China’s market.
The little car’s sales reached more than 33,000 last month, making it the first new energy vehicle to have sold over 30,000 units on a monthly basis in China this year.
One of the key factors is the price. At just 210,000 pesos, the model is the cheapest new energy vehicle on the Chinese market, and it’s turned out to be just what consumers are looking for.
The buyers are mostly young people – 40 percent were between 20 and 30 years old.