13 Sep 22
News

New energy car sales in China soared more than 100% in a year

New energy car sales in China soared more than 100% in a year

In 2021, China became the biggest global electric-vehicle (EV) market, selling a total 0f 3.31 million new energy vehicles (NEVs) and grabbing 53% of the global market, according to  China Passenger Car Association (CPCA). 

The latest figures released by the China Association of Automobile Manufacturers (CAAM), sales of NEVs, including hydrogen fuel-cell, electric and plug-in hybrid vehicles, surged more than 100% compared to the same period of last year. CAAM figures show that a total of 2.38 million units of cars were sold in August, an increase of 32.1% from a year ago. 

Sales of NEV reached a record of 632,000 in August, with 490,000 being battery-electric vehicles (BEVs) and 142,000 plug-in-hybrid vehicles (PHEVs). Compared to the same month last year, the number of NEV passenger cars sold in China increased by a striking 108%. In August 2021, a total of 304,000 NEVs were sold, which was the record for the time. 

The booming NEVs now account for 30.1% of the passenger car market in China, where total sales reached 2.097 million units in August 2022. The leaders in the NEV market of China are as follows: 

  • BYD sold 173,977 passenger cars in August; 82,678 BEVs and 91,299 PHEVs. 
  • Tesla sold 76,965 EVs in August, up from 78,906 in July. 
  • Neta, a rising EV startup, sold 16,017 BEVs in August.
  • Leapmotor sold 12,525 BEVs, 
  • Nio followed with 10,677 sales, 
  • Xpeng saw a slight drop in sales with 9,578 BEVs, 
  • Geely's Zeekr saw an increase, reaching 7,166 sales in August. 

Nevertheless, power restrictions, intense heatwave affecting customers and Covid-19 lockdowns pushed the overall car sales 1,5% down in July 2022 in China. 
 
China's export of NEVs are also on the rise; according to CAAM, vehicle exports increase 65% yearly, while EVs represent 27% of the exports. 

Image: Shutterstock

Authored by: Mufit Yilmaz Gokmen