China EV Manufacturing Bubble Faces Getting Bludgeoned

by Wolf Richter
Wolf Street

There are now 486 EV manufacturers in China, triple from two years ago. Most will disappear.

New vehicle sales in China plunged 14% in the first quarter from a year earlier, according to the China Association of Automobile Manufacturers today. For the whole year 2018, new vehicle sales had dropped 4.1%, the first such drop in modern data going back to 1990.

Despite this historic slump, sales of “electrified” vehicles (battery-electric EVs, plug-in hybrids, and fuel cell vehicles) soared 85% in March compared to a year ago, and 110% in the first quarter, to nearly 300,000 units: 227,000 EVs, 72,000 plug-in hybrids, and 273 fuel-cell vehicles.

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