Electric car sales soar in China

While registrations of combustion engine vehicles are declining, electric cars in China are increasing by 119%.

In the midst of an unprecedented downward cycle in vehicle sales, accumulating a 13% drop compared to the previous year, electric car sales in China have offered a glimmer of optimism in the automotive sector. The Asian country has stepped on the gas.increasing by 118%Sales of this type of vehicle are reaching254,000 unitsso far this year.

While the vehicle sales situation in China, one of the main indicators of the global economy, shows clear signs of fatigue in the more traditional market, it also serves to demonstrate optimism regarding a more sustainable transportation model that is already gaining ground.5.2% market shareA number that cannot be overlooked when talking about the world’s largest vehicle sales market.

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The figures, published by Chinese manufacturers, have provided a snapshot of a market in which, pFor the first time since 1990, a drop in sales has been recorded.But this seems to solidify the role that electric vehicles will play in the sector in the medium term. The figures are clear and inspire optimism for a booming “subsector.” With 254,000 units sold during the first half of the year, out of a total of 4.8 million, experts are venturing to predict that, by the end of the year, electric car registrations in China, whether 100% electric, plug-in hybrids, or hydrogen-powered, will reach…1.7 million unitss. A6% of the vehicle sales market in China.

Which brand is the main beneficiary?

If we’re talking about a brand that’s riding this wave, we have to talk about Tesla. The American firm, with itsModel 3 as a workhorse, it has achieveddeliver 10,500 unitsdespite the numerous logistical problems, including the ongoing tariff war, and homologation issues that the electric vehicle manufacturer has faced.

Knowing this, it makes sense that Elon Musk’s company is giving its final push.factory in China, which will begin production during 2019.¿