The China Passenger Car Association (CPCA) recently released preliminary wholesale data for new energy vehicles (NEVs) in China for the month of November. The total sales of NEVs reached 1.46 million, representing a significant 51% increase year-on-year. NEVs encompass both Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs), and the penetration rate for NEVs in November was reported at 53.3%.
Notably, three producers achieved sales of over 100,000 units in November, with BYD leading the pack with sales of 504,003 units. Geely followed with 122,453 units sold, while SAIC-GM-Wuling sold 113,998 units. Changan also performed well, coming close to the 100,000 mark with sales of 98,494 units.
BYD’s exceptional performance in November highlighted its dominance in the market, surpassing its competitors by a significant margin. Geely also saw impressive growth, with a NEV penetration rate of 49% and total sales of 250,100 units. The company’s NEV sales in November increased by 13% month-on-month and 94% year-on-year, contributing to a cumulative yearly sales increase of 92%.
SAIC also had a strong month, with NEVs accounting for 36.53% of its sales in November. The SAIC-GM-Wuling joint venture played a significant role in this achievement, contributing the majority of SAIC’s NEV sales.
While Great Wall had a penetration rate of 28.25% in November, the company’s progress in transitioning to NEVs has been slower compared to its competitors. Chery, on the other hand, showed remarkable progress with a NEV penetration rate of 27.7% and a staggering year-on-year sales increase of 267.9%. NEVs accounted for 20.9% of Chery’s overall vehicle sales.
Changan has not yet announced its overall sales figures for November, but NEVs accounted for 30% of its sales from January to October.
Overall, the NEV market in China continues to show strong growth and competition among leading producers. The data provided by the CPCA, Autohome, and Economic Observer offer valuable insights into the evolving landscape of electric vehicles in the country.
