Sales of new energy vehicles in China hit a historic high

According to the China Passenger Federation, sales of new energy vehicles reached China in September.

historical maximum and amounted to 611,000units, which corresponds to an increase of 82.9% compared to the results for this period last year and 15.4% compared to August this year. There are no final results for October sales yet, but this month's forecast is 550,000 units, which would represent a 73.5% year-on-year increase but 10% below September sales. September recorded the highest penetration rate of new energy vehicles in history, accounting for 31.8% of total new vehicle sales. In October it is expected at the level of 28.8%. Greater activity by local automakers and growing competition in the market led Tesla to cut the price of its electric vehicles in September and October, reducing the price in total from 8,000 yuan ($1,000) to 37,000 yuan ($5,000) depending on the model.