Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

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.

LATEST
Xiaomi Leads India’s Smartphone Market with 26.1% Share
Trending in China: Are China’s Blue-Collar Wages Really Higher Than Graduate Salaries?
Trending in China: An End to Spam Calls? Real Estate Company to Give Money to Anyone Who Receives One
Trending in China: Patriotic War Film Overpowers Foreign-Made Feature, But Not Everyone Is Impressed
Shopify Partners with TikTok to Drive Online Sales
Lawson Tests Next Step of Convenience Store Evolution in China
PUBG Creator Krafton Hires Bankers for Possible Record IPO
Mobile Browser Crackdown Ensnares Big Names
Chinese Biotech Startup Genecast Bags $149 Million in Series E Funding Round
Founder and CEO in ‘Divorce’ With Dating App Momo
Chinese Medical Rehabilitation Robot Maker Fourier Closes $15 Million Funding Round
Caixin Investigation Uncovers Shady Business In Myanmar
Tencent Bets Big on Chinese E-Sport Firm, Leading $100 Million Funding Round
Chinese Companies Line Up to Take Advantage of Huawei’s U.S. Troubles
Trending in China: Social Media Applauds Jack Ma’s Detailed Critique of China’s Financial Sector
Trending in China: Female Student Fights ‘Period-Shaming’ – Social Media Discusses the Pros and Cons
Chinese Auto Tech Startup Closes $194 Million Series A Funding Round Led by Baidu
iQiyi to Create Genre-Specific Content to Meet Different Audience Demands
Gaw Capital Inks JV With Manbang Group to Develop Smart Logistics Properties in China
Tesla Recalls Nearly 50,000 U.S.-Made Cars in China over Suspension Problems
BYD Sees Sharp Drop in New-Energy Car Sales in November

By Ding Yi / Dec 09, 2019 06:49 PM / Business & Tech

Photo: VCG

Photo: VCG

Chinese automaker BYD saw its new-energy vehicle sales more than halve in November compared to the same period last year, as reduced government subsidies dampen buyers’ interest in the more eco-friendly cars.

Sales of new-energy vehicles (NEVs) dropped to 11,220 units in November from 30,076 units in the same month in 2018, the company said in an announcement on the website of the Hong Kong Stock Exchange on Friday.

Sales of battery-powered vehicles and plug-in hybrids fell to 8,000 units and 2,675 units respectively last month.

The carmaker also saw its total car sales nosedive for the month, dropping to 41,295 units from 50,982 units a year ago.

The November drop followed a slump in October, when BYD delivered 12,567 new-energy cars, more than 50% fewer than the same month last year.

Since the beginning of this year, the Chinese government has cut subsidies for new-energy car producers, asking companies to shift focus to innovation rather than using the subsidies to simply attract buyers. The measures have dragged heavily on new-energy car sales in the country. China began subsidizing purchases of new-energy cars in 2009.

Contact reporter Ding Yi (yiding@caixin.com)

Related: BYD Suffers NEV Sales Slump in October

Share this article
Open WeChat and scan the QR code