China Cuts Subsidies: Green Cars Sales Drop 34%
Purchases fell for third consecutive month following government cuts to subsidies
New energy vehicle sales in China, the world’s largest car market, fell for the third month in a row as a slowdown in the overall market expands to electric vehicles following cuts in government subsidies.
Sales of NEVs — which include hybrids and fully electric cars — sank 34.2 per cent in September from a year earlier, according to the China Association of Automobile Manufacturers….
Changes to the subsidy regime, announced in March, that limited support to only a handful of top-performing marques, have raised doubts about the longevity of a number of Chinese electric carmakers.