The Influence of Several Factors on the Sales of New Energy Vehicles in China and the United States During the Covid-19

Abstract

Covid-19 has hit various industries around over the world, including the automotive industry in different countries. The high unemployment rate and declining consumer spending due to travel restrictions such as stay-at-home orders related to the epidemic have led to a plunge in auto sale the United States, China and rest of the countries over the past two years. Under this circumstance, governments have increased subsidies for new energy vehicles as a grip to boost the economies, which means the global automotive sales remains a relatively high grow rate during the epidemic. Therefore, new energy vehicle policies as well as sales in different countries, especially in the United States and China, continue to maintain a stimulating pace. To better understand the future sales trends of new energy vehicles, and promote the transformation and upgrading of the automotive industry, the aim of the present study is to investigate the impact of policy, marketing, and supply chain on the sales of new energy vehicles, and to discuss the challenges, opportunities faced by the new energy vehicle industry in China and the United States. After collecting and integrating information from various sources, the data indicate that although the epidemic has had a significant impact on different industries, new energy vehicle industry will continue to benefit fully in the medium to long term in the industry chain of the times. The automotive industry in China and the United States is gradually recovering, but China's pace of progress may be relatively faster.