January 11, 2018 / 8:04 AM / a year ago

China NEV sales seen up 40 pct in 2018 - industry association

BEIJING, Jan 11 (Reuters) - China’s new-energy vehicles (NEVs) are expected to see sales growth of around 40 percent in 2018, an industry association said on Thursday.

Sales of NEVs would definitely top 1 million vehicles this year, one official from the China Association of Automobile Manufacturers (CAAM) told a press conference.

China’s finance ministry said in December it will extend a tax rebate on purchases of NEVs until the end of 2020, a boost for hybrid and electric car makers amid a shift by policy-makers away from the traditional internal combustion engines. (Reporting by Beijing Monitoring Desk; Editing by Muralikumar Anantharaman)

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