BEIJING, April 10 (Xinhua) – China's new energy vehicle (NEV) market witnessed a robust month-on-month growth in March.
In the wholesale market, sales of NEVs surged 400 percent month on month to 56,000 units in March, data from the China Passenger Car Association (CPCA) showed Thursday.
Among them, sales of pure electronic vehicles reached 47,000 units last month, according to the industry association.
An earlier State Council executive meeting decided to extend subsidies and tax exemptions for NEV purchases by another two years, which were set to expire at the end of this year.
Such a move will enable NEVs to maintain a cost advantage of more than 20 percent over conventional fuel cars in the next two years, said the CPCA.
In addition, the moderate extension of the policy is expected to help ease the operating pressure of NEV manufacturers and support the automotive industry to achieve a smooth transition in the production and sales.
(Edited by Yang Yifan with Xinhua Silk Road, yangyifan@xinhua.org)
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