China's new energy vehicles sales surge in November

Source: Xinhua| 2017-12-11 20:33:30|Editor: Lifang
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BEIJING, Dec. 11 (Xinhua) -- China reported brisk sales of new energy vehicles in November, with annual sales expected to exceed 800,000, as the government's eco-friendly policy shows effect.

Sales of China's new energy vehicles increased over 80 percent year-on-year in November to 119,000 units, the China Association of Automobile Manufacturers (CAAM) announced Monday.

Some 122,000 new energy vehicles were produced in November, up 70.1 percent year on year, according to CAAM.

In the first 11 months, production and sales stood at 639,000 and 609,000 units respectively, up 49.7 percent and 51.4 percent from a year ago.

The robust growth came as China intensified efforts to encourage the use of new energy vehicles to ease pressure on the environment by offering tax exemptions and discounts for car purchases, and ordering government organizations to buy more new energy cars.

In November, sales of new energy passenger cars reached 83,000 units, and that of the commercial vehicles amounted to 36,000 units.

In the first 11 months, the two categories stood at 476,000 units and 133,000 units, respectively.

CAAM officials estimated annual new energy vehicle sales would reach nearly 800,000 units in 2017, and one million in 2018.

In November, total auto sales rose 0.7 percent year-on-year to 2.96 million units, the sixth monthly increase in a row.

China is the world's largest auto market, also the fastest-growing market for new energy vehicles thanks to the government's preferential policy to boost the use of clean energy to curb pollution.

In 2016, China sold 507,000 new energy vehicles, an increase of 53 percent.

Starting 2018, new energy vehicle buyers can borrow up to 85 percent of the cost from banks, up from the current 80 percent.

China is to cut carbon emissions per unit of GDP by 60-65 percent from 2005 levels by 2030 and raise the share of non-fossil energy use in total consumption to about 20 percent.