BEIJING, Aug 30 — When the Lunar New Year demonstrated electric vehicle (EV) limitations, China’s car owners have started looking at the next best thing — hybrids.
The South China Morning Post reported that brands such as BYD, Toyota and Volkswagen’ hybrid car sales numbered 396,000 or 45.1 per cent of total EV deliveries in contrast to just 34.3 per cent in the same lonth last year.
During the Lunar New Year, EV owners experienced their cars running out of juice quickly due to winter temperatures, long lines for EV charges as well as slow travel due to safety measures such as limiting EV numbers on ferries in Hainan.
Overall, Chinese consumers are becoming more cautious in their spending with many choosing to prepay mortgages and reduce debt.
With hybrid cars also receiving government incentives such as subsidies and a waiver on the 10 per cent consumption tax, little wonder that Chinese drivers are choosing hybrid cars as being more reliable for long-haul travel.
The strong demand for hybrids is not even a China phenomenon as globally, they made up 60 per cent of new EV sales globally in May according to research firm Autovista.
