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Battery electric logistics vehicle growth weakens in May; market share of 3.5-4.5-ton vehicles rise

In the first five months of 2018, the Chinese market for electric logistics vehicles is marked by two characteristics. Firstly, despite the rapid growths in the overall market, the growth in the electric logistics vehicle segment is beginning to slow. Secondly, the 3.5-ton and 4.5-ton segments continue to dominate, taking up more market share.

According to data from cvworld.cn, China’s battery electric specialized vehicle market (dominated overwhelmingly by logistics vehicles) produced a total of 5,615 units, up 69 percent from May last year. In the first five months of 2018, 15,500 units were produced, up 135 percent from last year. This shows that the growth is gradually slowing. In January, the year-on-year ratio was 964 percent, in February 406 percent, in March 116 percent, and in April 99 percent. May’s 69 percent is not a surprising follow up to this trend. The cumulative output for the first five months tells the same story, with January to April ratio year-on-year at 204 percent and January to May ratio at 135 percent. The reason for this trend, however, is the strong month-over-month growth exhibited last year. Due to extensive pre-buy effect at the end of 2016, the early months of 2017 suffered historical lows and only gradually warmed up over the year.

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