Citibank Investment It is expected that China’s annual sales of new energy vehicles will exceed 9.2 million units.

Citibank Forecasts China's Annual Sales of New Energy Vehicles to Exceed 9.2 Million Units

【PhoneAuto News】Recently, the Chinese new energy vehicle market has shown a continuous growth trend, with optimistic industry prospects. Recently, PhoneAuto noticed that CITIC Securities’ research report pointed out that in September 2023, China’s new energy vehicle sales exceeded expectations, reaching 904,000 units, a year-on-year increase of 28%. This data showed a month-on-month growth of 7%, indicating the strong growth momentum of the Chinese new energy vehicle market.

With the continuous enrichment of supply and the promotion of industrial chain price reduction, China’s new energy vehicle market is expected to achieve sales of more than 9.2 million units in the whole year of 2023. The realization of this forecast will further consolidate China’s leading position in the global new energy vehicle market.

China’s support and encouragement policies for the new energy vehicle industry have played a key role, providing incentives such as financial subsidies and tax benefits, as well as increasing the construction of charging facilities for new energy vehicles, providing a solid foundation for market development.

• China is expected to export 5.4 million cars in 2023, becoming the global leader!
• Xiaopeng X9 made its debut in real vehicle! The world’s first rear-wheel steering MPV will participate in the Guangzhou Auto Show.
• Dongfeng Honda’s former vice president, Zheng Chunkai, has retired from the front line and is no longer the Chinese leader.

In terms of technological innovation, Chinese new energy vehicle companies are actively researching and applying new technologies to improve product performance and quality. For example, some companies have begun to use more efficient batteries and more advanced motor technology to improve vehicle range and power performance.

In terms of market application, new energy vehicles are gradually being accepted and recognized by consumers. Government agencies, enterprises, and institutions have started to purchase a large number of new energy vehicles to meet the demand for energy saving and emission reduction. At the same time, the acceptance of new energy vehicles by individual consumers is also gradually increasing, especially among young people, who have a stronger willingness to purchase.

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