China cracks one million new energy vehicles per month

This means that around 70,000 more vehicles were sold in October than in the previous record month of October 2023, which represents an increase of 7.3 per cent. Compared to November 2022, the current result corresponds to an increase of around 30 per cent – 786,000 New Energy Vehicles were sold back then. The CAAM figures are manufacturers’ wholesale sales – in addition to cars sold in China, they also include vehicles built in China but exported.

As is known, new energy vehicles included plug-in hybrids, battery electric cars and fuel cell cars – although the latter also play a very minor role in China with 1,000 units sold in November. Broken down by other drive types, 702,000 battery electric vehicles (BEV) and 323,000 plug-in hybrids (PHEV) were sold in China.

The 702,000 BEVs in isolation are also a new record. Compared to October, they represent growth of 8.7 per cent (646,000 BEVs) and 13.5 per cent compared to November 2022. For plug-in hybrids, this is 4.2 per cent more than in October and 89.5 per cent more than in November of the previous year.

Across all drive types, the car market in China grew by 4.1 per cent compared to October and by 27.4 per cent compared to the same month last year to 2.97 million cars sold. The NEV share thus rose to 34.5 per cent (compared to 33.5 per cent in October) and all-electric cars achieved a market share of 23.6 per cent. As in the previous month, the figure for PHEVs was 10.9 per cent, while the 1000 FCEVs represent a market share of 0.034 per cent.

Among manufacturers, market leader BYD shows consistency. For November, 301,378 NEV passenger cars (+31% YoY) were recorded, including 170,150 BEVs and 131,228 PHEVs. This puts the manufacturer a touch above the October result (301,095 NEVs) when it passed the 300,000 mark for the first time. A total of 30,629 New Energy Vehicles from BYD were exported. This figure is also on a par with the October result.

In order to reach its target of three million NEVs sold in 2023, BYD would still have to sell 317,000 NEVs in December. The manufacturer currently stands at 2,683,374 units, 64.8 per cent more than in the previous year.

Tesla’s statistics for November show 82,432 BEVs sold in China, of which the US manufacturer exported 16,928. The 65,504 vehicles sold within China correspond to an increase of 4.8 per cent YoY and 129 per cent compared to October, when more cars were sold outside China (43,489) than within China (28,626). This is in line with Tesla’s pattern of producing cars for export in Shanghai in the first half of the quarter and for the domestic market in the second half.

GAC Group recorded 50,231 NEVs sold in November (+48.9% YoY), of which 41,567 units (+44.5% YoY) were from the GAC Aion electric car brand. The group is thus keeping the start-ups and other electric car brands, which are still close together, at a distance.

The Chinese startup and VW partner Xpeng ranks fourth. With 20,041 vehicles delivered, the company once again surpassed the 20,000 mark, which represents an increase of 245% compared to the previous year. In October, the new G6 electric SUV alone recorded 8,750 sales. Although the manufacturer Nio, which is also represented in Europe, was able to increase its sales by 12.6 per cent year-on-year, it still lagged behind Xpeng with 15,959 vehicles in November.

Between the two companies are high-flyers Aito and the new Stellantis partner Leapmotor. Aito, the premium NEV brand from Seres and Huawei, jumped from 12,700 sales in October to 18,827 – an increase of 127.93 per cent YoY and 48.2 per cent compared to October. Leapmotor reached 18,508 sales after 18,202 vehicles in October, a new record and an increase of 130 per cent YoY.

Zeekr is almost unchanged with 13,104 BEVs (October: 13,077), which is 19 per cent above the previous year’s figure. The Geely brand was overtaken in November by the Changan brand Deepal with 16,157 NEV sales. In contrast, the sales figures of BAIC BJEV (9,590, +58 YoY) and Dongfeng’s NEV brand Voyah (7,006, +365 YoY) remained in four figures.

cnevpost.com (CAAM), cnevpost.com (BYD), cnevpost.com (Tesla), gasgoo.com (GAC), ir.xiaopeng.com, ir.nio.com, cnevpost.com (Leapmotor), cnevpost.com (Zeekr), cnevpost.com (Aito), gasgoo.com (Deepal), gasgoo.com (BAIC BJEV), gasgoo.com (Voyah)