Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Tencent Reportedly Negotiating Risk-Mitigation Measures to Retain U.S. Gaming Investments
Foxconn to Set Up Chipmaking Joint Venture with Yageo
Excluding Chinese Vendors from Indian 5G Trials Will Hold Back Development, Diplomat Says
Alibaba-Backed MYBank Eyes Deeper Penetration Into Under-Banked Rural China
Vivo and Oppo Claim Top Two Spots in China Smartphone Market as Huawei Falls
U.S. Urges TSMC to Prioritize Supplies to American Carmakers Grappling with Global Chip Shortage
Indonesian Ride-Hailing Unicorn Gojek Aims to Go All Electric by 2030
Tencent-Backed Insurtech Firm Waterdrop Aims to Raise up to $360 Million in U.S. IPO
Which Money-Losing Electric-Car Makers Have Tied Up With Huawei?
Video Platform Bilibili to Buy Stake in Mobile-Game Maker CMGE to Boost Content
Baidu to Roll Out Driverless Robotaxis in Beijing in May
Tesla Challenger Nio Shrinks Losses as Sales Surge
Trending in China: A Beijing Bureaucrat Worked as Delivery Driver for a Day and Earned Just $6
Fjord Focus: Why Are Chinese Electric-Car Makers Flocking to Norway?
Alibaba Has Big Plans for Taobao’s Livestreaming Hawking Business
Xiaomi Extends Reign as India’s Smartphone King Despite Slipping Market Share
Self-Driving Truck Startup Plus to Develop Natural Gas-Powered Vehicle With U.S. Engine-Maker
China’s Origin Space Launches Prototype to See How Well It Cleans Up Space Junk
Trending in China: Is Bubble Tea for Tesla Really Such a Bad PR Effort?
TikTok to Set Up European Transparency Center to Ease Data Security Concerns
BYD Suffers NEV Sales Slump in October

By Ding Yi / Nov 07, 2019 04:38 PM / Business & Tech

Chinese automaker BYD saw its electric-car sales nosedive in October, seven months after the government cut subsidies for new-energy vehicles (NEVs).

The company shifted 12,567 NEVs last month, more than 50% fewer compared with the same period a year earlier, according to BYD’s earnings report released Wednesday.

Sales of pure-electric vehicles and plug-in hybrids fell to 7,588 and 4,454 units respectively. Last October, BYD sold 12,980 pure-electrics and 13,086 plug-in hybrids, the report said.

However, for the first 10 months of 2019, BYD actually grew its overall NEV sales to 205,187, up 19.9% year-on-year, according to the report.

In March, China’s Ministry of Finance started slashing subsidies for NEVs in a bid to streamline the industry and make it more competitive. After a three-month transition period that ended in June, total NEV sales in China tumbled 4.7% year-on-year in July, according to statistics from the China Association of Automobile Manufacturers, the country’s biggest auto industry association.

Contact reporter Ding Yi (

Related: China’s Electric-Vehicle Manufacturers Fight for Their Lives After Subsidies Slashed

Share this article
Open WeChat and scan the QR code