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China’s xEV (plug-in) vehicle market through 2016 has been roiled by news of government fining auto makers for falsely claiming subsidies. Though the scandal has reduced some of the expansionary momentum in the Chinese plug-in vehicle market, sales are expected to grow significantly in this year’s fourth quarter because buyers are spurred by the further reduction of purchase subsidies next year.
Automotive technology has been a growing highlight of the annual Consumer Electronics Show (CES) in the past few years, and this year is no exception. Eric Chang, automotive electronics analyst for TrendForce, said that the auto industry is driven by the race to develop autonomous driving technology and plug-in vehicles.
Global sales of xEVs (x-electric vehicles) have soared in 2015 owing to strong market demand in China and Europe. The latest report from global market research firm TrendForce reveals that worldwide sales of xEVs for the first three quarters of this year reached 330,000 units, up 31% year on year.
The global xEVs (x-electric vehicles) market has performed impressively this year mainly because of the Chinese market, which has expanded due to strong government support. EnergyTrend, a division of TrendForce, estimates that xEV sales in China will grow 20% year on year to 130,000 units in 2015; and the share of BEVs (battery electric vehicles) in China’s xEV sales this year will also reach 64%.
Global market research firm TrendForce held its 2016 IT Industry Forecast Conference at Room 101 of the NTUH International Center in Taipei, Taiwan, on October 15, 2015. The conference was divided into two sessions, with the first part devoted to forecasts on tech industries for 2016.