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2019 Chinese EV sales 1.241 million, Y-On-Y down 4%

Large  Small Date:2019-10-24  From:ICC
Note: Chinese terminal market was weakening in 2019. According to CAAM, Jan- Sep EV sales was 861 thousand. According to Jan- Oct statistics, Targeted EV sales was 1.5 million which was very difficult to realize.
Chinese terminal market was weakening in 2019. According to CAAM, Jan- Sep EV sales was 861 thousand. According to Jan- Oct statistics, Targeted EV sales was 1.5 million which was very difficult to realize. 

2019 H2 Chinese Ternary Material Differentiation Small Y-On-Y  

Chinese ternary material output M-To-M down 30.96%, Y-On-Y up 4.41% in June due to subsidy decline. Chinese ternary material output rebounded since July. According to ICCSINO, Chinese ternary output will reach 15000MT in Dec, Y-On-Y up 4.6%. 2019 H2 Chinese ternary material trend will be synchronous compared with 2018.

图片1
 
2019 Chinese Installed Power Ternary Weakening Y-On-Y

According to ICCSINO, EV sales changes lag behind battery output changes for 1 month. Thus July Chinese installed power ternary M-To-M down 54.71%, Y-On-Y down 17.58% in July. It’d predicted that Dec Chinese installed power ternary will be 4.5GWH, M-To-M up 12.50%, Y-On-Y down 32.70%. 2019 H2 Chinese installed power ternary market was more weakening Y-On-Y. Speeding up installed power ternary output phenomenon still exist in 2019 due to subsidy policy.

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Conclusion: 2019 Chinese EV Sales Y-On-Y down 4%.

According to ICCSINO, 2019 Chinese EV sales will be 1.242 million, Y-On-Y down 4%. This number is much lower than our expectation (1.5 million). 2019 Chinese EV industry growth is in stagnation. With Tesla localization in Shanghai, 2020 Chinese EV targeted sales ( 2 million) is difficult to realize. It’s predicted that supporting policy will be made to boost Chinese EV market.

 

 
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