According to a study published by the consulting firm Strategy &, the sales of electric vehicles observed in China in the first quarter of 2020 appear to be lower than those of the five largest European markets combined. But a particular event explains this decline: the COVID-19 pandemic.
Considered the world's largest market in terms of electric vehicles, China will not keep the first quarter of 2020 in its history. In fact, sales of electrified cars within its territory experienced a drastic drop compared to Q1 2019, even leaving Europe, or at least the five largest markets on the continent (Germany, France, United Kingdom, Italy and Spain), take the lead.
As shown in a study posted online by the consulting firm Strategy &, a subsidiary of the London group PricewaterhouseCoopers, the five major European powers mentioned above recorded a total of 312,626 electrified cars sold, of which 79,300 were electric (+ 120%), 56,188 plug-in hybrids (+ 149%) and 177,208 hybrids (+ 27%), an overall increase of 58% compared to last year.
As for the Middle Kingdom, it's funny face soup: the 134,880 copies sold are made up of 77,256 electrics (- 58%), 26,997 rechargeable hybrids (- 51%) and 30,627 hybrids (- 37%), corresponding to a fall of 53%. Figures that should not alarm national industries, however, since sales are expected to rise again in the second quarter of 2020.
Europe, a tough Q2
The Chinese market was hit hard by the negative economic effects of the coronavirus between January and March, a period during which strict containment measures pushed factories to shut down. During this time, and while the virus was spreading all over the world, the European situation was generally spared … Until the arrival of COVID-19 and containment measures.
France and its neighbors thus gradually confined themselves during the month of March, while the Beijing administration, for its part, stood ready to gradually lift the rules. It is therefore a safe bet that the Chinese economy will start again in the second quarter of the 2020 vintage, Conversely from Europe, whose containment will directly impact the sales of electric vehicles over this period.
Source: Europe Autonews