Sales figures for new energy vehicles pick up again in China

After a decline in July, China recorded its second-best monthly figure to date for sales of electric cars and plug-in hybrids in August: around 1.1 million of the so-called new energy vehicles were sold in August 2024, according to figures from the China Association of Automobile Manufacturers (CAAM).

This is 30 per cent more than in the same month last year and eleven per cent more than in July 2024. The term New Energy Vehicles covers two types of plug-in cars: Battery Electric Vehicles (BEV) and Plug-in Hybrids (PHEV). BEV sales by Chinese manufacturers totalled 646,000 units in August, a new annual high. This is 17 per cent more than in the previous month of July and 8 per cent more than in the same month last year.

PHEV sales totalled 453,000 units in August, marking the fourth consecutive month of record sales. This is three per cent more than in the previous month and a steep growth of 83 per cent compared to the same month last year.

Across all drive types, 2,453,000 vehicles were sold in China in August, 5 per cent fewer than in the previous year, but 8 per cent more than in July. The share of new energy vehicles was therefore just under 45 per cent. NEV exports totalled 110,000 units, an increase of 22 per cent compared to the previous year and seven per cent more than in July.

In the manufacturer ranking, BYD remains the undisputed champion: the NEV manufacturer achieved another sales record in August. BYD sold 373,083 NEVs, surpassing the previous record set in July (342,383 units). This corresponds to an increase of 35.97 per cent compared to the previous year and 8.97 per cent compared to July. Broken down by drive type, BYD sold 222,384 PHEV passenger cars, an increase of 73 per cent compared to the previous year and an increase of 5.5 per cent compared to July. BYD sold 148,470 battery electric cars in August, almost two per cent more than in the previous year and 14 per cent more than in July. The figures missing from the total are attributable to commercial vehicles.

Tesla sold 86,697 vehicles from its Shanghai plant in August, of which 23,241 were exported. This means that the US electric vehicle maker sold 63,456 vehicles in China in August, a new high for 2024, down nearly two per cent from 64,694 vehicles in the same month last year, but up 37 per cent from the 46,227 units sold in July 2024.

Of the total 257,635 vehicles sold by SAIC Motor last month, 86,578 units were in the new energy vehicle sector, a year-on-year decrease of six per cent. By August, the Group’s NEV sales had reached 618,711 units this year, an increase of eleven per cent year-on-year. SAIC also includes the MG brand, which is successful in Europe.

Dongfeng sold 123,782 vehicles in August. Of these, 36,362 units were new energy vehicles, including 34,296 passenger cars and 2,066 commercial vehicles. Compared to the previous year, Dongfeng’s NEV sales increased by 15 per cent. Dongfeng also includes the Voyah brand, which is currently expanding into Europe.

Stellantis-backed NEV manufacturer Leapmotor set a new delivery record last month, with the new C16 model driving sales growth. Leapmotor delivered a record 30,305 vehicles in August. This is the first time since the company was founded that more than 30,000 vehicles have been delivered in one month. The figure was 114 per cent higher than in the same month last year (14,190) and 37 per cent higher than in July (22,093).

The premium manufacturer Nio delivered 20,176 electric vehicles. Deliveries consisted of 11,923 SUVs and 8,253 sedans. Cumulative deliveries of Nio vehicles reached 577,694 units by 31 August 2024.

The Geely subsidiary Zeekr recorded an increase in deliveries last month after a decline in July. The manufacturer delivered 18,015 vehicles in August, the third-highest figure since its foundation. This was 15 per cent more than in July (15,655) and 46 per cent more than in the same month last year (12,303).

Xpeng delivered 14,036 vehicles in August 2024, up three per cent year-on-year and 26 per cent month-on-month.

Xiaomi’s first electric vehicle, the SU7, surpassed 10,000 units delivered in August, Xiaomi EV, the EV division of the mobile phone maker, announced today. As in the past two months, Xiaomi EV did not release exact figures for monthly deliveries of the SU7. However, Xiaomi EV said that the SU7 has shipped more than 10,000 units for three consecutive months and expects to exceed its annual target of 100,000 shipments in November.

cnevpost.com (CAAM), cnevpost.com (BYD), cnevpost.com (Tesla), nio.com (Nio), xiaopeng.com (Xpeng), cnevpost.com (Zeekr), cnevpost.com (Leapmotor), cnevpost.com (Xiaomi), gasgoo.com (SAIC), gasgoo.com (Dongfeng)