Nomura: China's electric vehicle market is expected to continue to be strong in the fourth quarter of 2024

Zhitongcaijing · 10/15 08:25

The Zhitong Finance App learned that Nomura released a research report saying that it is expected that the Chinese electric vehicle market will continue to be strong in the fourth quarter of 2024. In September 2024, China's monthly sales volume of photovoltaic electric vehicles increased 48.7% year-on-year to 1.12 million units. At the same time, the penetration rate of electric vehicles reached 53% and will continue to show a strong trend.

Nomura believes that the recovery in demand is mainly due to the revisions and follow-up of trade-in subsidy programs in provinces and cities, which has actually helped potential consumers who originally had a wait-and-see attitude to place orders now. September/October, or the fourth quarter in general, is the peak season for car sales in the Chinese market.