Shandong district experiences surge in new energy vehicle consumption

The new energy vehicle market in Kuiwen district, Weifang, Shandong province, has seen a consumer boom due to rapid technological advancements, increasing fuel vehicle costs, and the implementation of trade-in policies. 

This year's surge in consumer interest is attributable to various factors such as discounts on cars, trade-in subsidies, and interest-free financing. In addition to these incentives, regular test drives, road trips, and unique showroom events have played a significant role in attracting more consumers to the market. 

Consumers choose new energy vehicles at the 4S dealership in Kuiwen district. [Photo by Wei Wei and Zhao Weiqi for chinadaily.com.cn]

"This year's new energy vehicle sales are very encouraging, with about a 20 percent increase compared to the same period last year," said Tan Peizi, general manager of a BYD 4S dealership in Kuiwen.

As domestic manufacturers are sparing no effort in promotions, joint venture brands are keeping pace. A Mercedes-Benz 4S dealership in Kuiwen district is prominently promoting fully electric models with cash discounts, financial incentives, and trade-in subsidies. 

To further boost the market, the Shandong provincial government has proposed stimulating consumption through financial support and optimizing the consumer environment, aiming to increase the inventory of new energy vehicles to over 3 million by 2025. 

Currently, the Weifang auto industry park in Kuiwen district hosts over 80 new energy vehicle brands. Since the start of this year, the district has witnessed the sale of more than 3,400 new energy vehicles, with annual sales projected to surpass 17,000 units, accounting for over 35 percent of total sales. (Edited by Du Xiaping)