China's new energy car sales to double

Image
IANS Beijing
Last Updated : Apr 23 2014 | 5:07 AM IST

The number of new energy cars sold in China this year may hit 35,000, double than that were sold in 2013, in the wake of government promoting the use of greener vehicles in the country, a new official forecast has revealed.

According to a report on China's auto industry released Tuesday by the China Association of Automobile Manufacturers (CAAM), sales may reach 60,000 if hybrid-power vehicles are taken into account, Xinhua reported.

The Chinese government launched a trial programme to subsidize new energy car purchases in several major cities in mid 2010.

The finance ministry and another three government organs initiated a plan to promote new energy vehicle use last year and renewed the policy in February by raising the subsidies for 2014 and 2015.

Data from the CAAM showed that 17,642 new energy cars were sold in China last year, up 37.9 percent from a year ago. In the first quarter of 2014, sales surged 120 percent year on year to 6,853 cars.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Apr 23 2014 | 5:02 AM IST

Next Story