UK Media: China's "Frenzied March" in Electric Vehicles

The war between the US and Israel has made oil-free new energy vehicles a preferred choice for consumers, a preference directly reflected in sales figures. Data from the China Association of Automobile Manufacturers shows that China's monthly export volume of new energy vehicles reached 371,000 units in March, an increase of over 100% compared to the same period last year and a 31.6% rise compared to February (the previous month).

Local Australian automotive influencer and EV industry practitioner Shaun Gu (also known as "Shunzi") confirmed this trend on social media. He stated that electric vehicle sales in Australia soared in March—up 51% for the month—and for the first time ever, EVs accounted for 14% of total car sales in Australia, significantly higher than the usual 9% to 10% share.

In Australia, two major beneficiaries have emerged from this trend: one is the Tesla Model Y; the other is the BYD Seal 7, the same model driven by Thailand’s Prime Minister.

The Seal 7 made history in March by surpassing the Toyota RAV4, which has long been the best-selling SUV in Australia. BYD remained the standout performer. According to Australian vehicle registration data, BYD sold 7,217 units in March, marking a 35% year-on-year increase. Shaun Gu said many retailers are now out of stock, and customers must wait two to three months to receive their ordered vehicles.

Willy Tee Ten, CEO of Autohub Group—the largest automotive distribution group in the Philippines—and chairman of the Philippine Electric Vehicle Association, said in a late-March interview that skyrocketing fuel prices have dramatically increased inquiries for electric vehicles. He noted that under current fuel price levels, EVs can help Filipino consumers save approximately 65% on daily driving expenses.

Suyue, Chief Economist for China at the Economist Intelligence Unit (EIU), believes high oil prices are accelerating the global shift toward electrification, further boosting demand for new energy vehicles and solar panels, thereby creating significant upward potential for these green products.

Although the United States and Iran have ceased hostilities and begun negotiations, Alexander Brown from the Mercator Institute for China Studies (MERICS) still stated: "Given that oil prices are expected to remain elevated over an extended period, even if a ceasefire or peace agreement is ultimately reached, demand for related green technologies is likely to remain robust."

Source: BBC

Original article: toutiao.com/article/1863098754755596/

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