Personal vehicle gets more customers as people fear about the safety of public transportation. Chinese automotive market is going to make use of the opportunity to expand the electric vehicle market to the next level.
Once the lockdown ends, China expects a boom in vehicle sales. What are the reasons?
What does Chinese people think about automotive market?
A marketing research firm Ipsos had conducted research on the impact of CORONA on new car purchases in China and found out that 41% of new buyers prefer electric cars.
Out of the people who were surveyed 50% needs a vehicle AC with germ filter and antibacterial interior.
Due to the CORONA crisis, the Chinese car market declined to almost 96%. In the last month’s news roundup, we had discussed that Tesla could manage to keep the first position in the electric car market.
Electrek reports that based on the China Passenger Car Association reports,
- Tesla sales jumped to 3900 cars in February to more than 10000 in March
- BYD sold 10433 electric cars and 1330 plugin electric cars in March. They could sell 2533 electric and 206 plugins on February
- Nio almost doubled the vehicle sales in March with 1533 vehicles
What do you think, how would be the electric vehicle market after the corona crises?
Conclusion
The Corona Virus had affected badly the world economy. China was one of the main victim of the pandemic. Despite of the fact that the economy disrupted completely, china is now trying to recover from the crisis.
Private vehicles, especially electric vehicles get more acceptance among the customers.
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Key points
- Market research shows that Chinese people inclined to EV than public transport
- People prefer AC with germ filter and antibacterial interior
- Many manufacturers are going to expand market in china (Tesla, Nio, Volkswagen)
