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.