• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 3 hours Science: Only correct if it fits the popular narrative
  • 3 hours Crazy Stories From Round The World
  • 6 hours What are the odds of 4 U.S. politicians all having children working for Ukraine Gas Companies?
  • 11 hours EU has already lost the Trump vs. EU Trade War
  • 1 day Pioneer's Sheffield in Doghouse. Oil upset his bragging about Shale hurt prices. Now on campaign to lower expectations, prop up price.
  • 4 hours China's Renewables Boom Hits the Wall
  • 1 day ''Err ... but Trump ...?'' *sniff
  • 6 hours Do The World's Energy Policies Make Sense?
  • 5 hours Forget out-of-date 'dirty oil' smear, Alberta moving to be world's cleanest oil industry
  • 5 hours Impeachment Nonsense
  • 1 day Tesla Launches Faster Third Generation Supercharger
  • 10 hours Water, Trump, and Israel’s National Security
  • 1 day Passerby doused with flammable liquid and set on fire by peaceful protesters

Breaking News:

Russia Plans To Boost Crude Oil Exports

Alt Text

The $75 Billion Indicator That Might Reveal Aramco’s True Value

Saudi Aramco’s much-anticipated initial public…

Alt Text

Oil Giant Stoically Refuses To Pay Ransom

Mexico’s Energy Minister Rocio Nahle…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

The World’s Biggest EV Market Braces For Another Crippling Blow

China may cut, yet again, subsidies for customers buying electric vehicles (EVs), in what could be another heavy blow to electric car sales in the world’s biggest EV market, which has already seen lower registrations due to previous subsidy cuts.

Chinese car industry regulators are considering a further cut in subsidies, possibly from next year, Bloomberg reported on Friday, citing people with knowledge of the matter.

Discussions over the proposal are in early stages, so it’s uncertain whether China will cut the subsidies again, and even if it does, it’s uncertain that it would do so as of next year, according to Bloomberg’s sources.

China has heavily subsidized EV sales over the past decade, but has started to gradually decrease the subsidies in recent months, attempting to let EV makers compete in the world’s biggest EV market.

However, China’s previous subsidy cut this past June coincided with an economic slowdown, battering sales of EVs on the largest such market in the world.

EV sales in China in July dropped after Beijing cut subsidies and as its economic growth slows amid the U.S.-China trade war. China’s cut in EV subsidies led to global EV sales dropping for the first time on record in July, analysts at Bernstein have estimated. China represents around half of all global EV sales.

Now Chinese policymakers and industry regulators may have to tread carefully on possible further cuts to subsidies, considering that the latest subsidy decrease led to a months-long slump in EV sales.

China’s sales of new energy vehicles (NEVs)—including fully electric and hybrid vehicles—dropped in September for a third consecutive month, by 34.2 percent year on year, according to the China Association of Automobile Manufacturers.  

The overall car market is also going through a sales slump—total car sales dropped by 5.2 percent annually in September, extending the annual sales decline for the 15th month in a row.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage



Leave a comment
  • Mike Berger on November 09 2019 said:
    Contary, value of subsidies will likely go up as they've been extended to include Tesla. Both u.s. and china made.

    They're trying to discourage the lowest level short range evs.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play