China’s new energy vehicle (NEV) orders plunged by more than half during the recent holiday week compared to the same period last year, according to Goldman Sachs. The sharp decline reflects weakening demand in the world’s largest electric vehicle market, where consumer spending has slowed amid economic pressures. Analysts attribute the drop to tighter credit conditions and shifting consumer priorities, raising questions about the sustainability of China’s EV growth. The data underscores broader challenges in the global shift toward electric mobility as market dynamics evolve.
China NEV Weekly Orders Fall 52% on Year in Holiday Week, Goldman Says eletric-vehicles.com
