The Chinese electric vehicle market saw a surge in plug-in hybrid (PHEV) registrations in November 2024, with domestic carmaker BYD leading the charge. Despite this growth, battery-electric vehicles (BEVs) continued to dominate the market in terms of volume. According to data from EV Volumes, a total of 532,492 PHEVs were registered in China during the month, marking an 81.7% increase compared to November 2023. This impressive performance made it the second-best month on record for PHEVs in China, following a strong result in October.
On the other hand, BEVs also saw a significant increase in registrations, with 768,406 units hitting the Chinese roads in November, a 31.9% rise from the previous year. This record-breaking month showcased the ongoing popularity of BEVs among buyers in the country.
Throughout the first 11 months of the year, PHEVs experienced remarkable growth, with a total of 4.23 million units registered in China, reflecting an 80.5% increase compared to the same period in 2023. In contrast, BEVs maintained their lead in the electric vehicle market, with 5.66 million models registered between January and November, showing an 18.8% improvement.
The BYD Seagull continued to dominate the BEV market in China, securing the top spot in November with a record 56,156 registrations. However, its market share slightly declined due to increased competition. The Tesla Model Y followed closely in second place, with 44,576 units delivered, despite a slight drop in performance compared to the previous year. The Wuling Mini rounded out the top three, with 34,777 registrations and a 51.3% increase year-on-year.
In the PHEV market, BYD maintained its stronghold, occupying seven out of the top 10 positions. The BYD Song led the pack with 50,768 registrations in November, followed by the BYD Qin L and the BYD Seal 06 in second and third place, respectively.
Overall, the Chinese EV market showcased a dynamic landscape in November 2024, with strong performances from both PHEVs and BEVs. As domestic manufacturers like BYD continue to innovate and expand their offerings, the competition in the electric vehicle sector is expected to intensify further. The data from EV Volumes highlights the changing preferences of Chinese consumers towards more sustainable and eco-friendly transportation options.
