The monthly number of registered electric vehicles in China continues to increase, and according to statistics from the China Automobile Manufacturers Association (CAAM), the number of so-called new energy vehicles (electric vehicles and plug-in hybrids) sold in September was approximately 904,000. It is said that it has reached the stage. , an increase of 58,000 people from the previous record in August 2023.
The Chinese market has been recovering since the slump at the beginning of the year. More than that, the September record shows that China is clearly back on a growth track. According to reports, 636,000 new NEVs were on public roads in China in April 2023, 717,000 in May 2023, 806,000 in June, and then slightly There was a dip. 780,000 units in July. Subsequently, sales in August and September clearly exceeded the previous record of 814,000 NEV sales in December 2022. At the time, some subsidies expired at the end of the year. Specifically, the approximately 904,000 NEVs sold in September represents an increase of 28 percent compared to September 2022 and 6.7 percent compared to August 2023.
Specifically, approximately 627,000 BEVs and 277,000 PHEVs were sold in China in September. Fuel cell electric vehicles (FCEVs) are also part of new energy vehicles, but they are playing no role at all, with only 10 newly registered last month. 627,000 BEVs represents a 16.3% increase year-on-year, and a 5% increase when looking at August (597,000 BEVs). 277,000 plug-in hybrids represent a 64% increase year-over-year and an 11.2% increase compared to August.
Across all powertrains, 2.86 million new cars hit Chinese roads in August (up 9.5% in September 2022 and 10.7% in August 2023). This means that NEV accounted for 31.6% of the total market. In other words, it will be less than one-third. In July and August, the numbers were slightly higher, at 32.7 percent and 32.8 percent, respectively.
BYD continues to expand its lead in Manufacturer Overview. The company is currently breaking records after record-breaking months (July was no exception, even though the NEV market as a whole was a bit sluggish). According to CAAM statistics, BYD sold 286,903 NEVs in September, an increase of about 13,000 from August and about 25,000 from July. The ratio of BEVs to PHEVs has often been almost 50:50 throughout the year, but September is the second month in a row that he has swung slightly in favor of BEVs. Specifically, BYD sold 151,193 battery electric vehicles (up 59.3% year over year). Plug-in hybrids sold 135,710 units (28% increase from the previous year).
The OEM is aiming for 3 million units this fiscal year, and the current NEV is 2.08 million units. In the fourth quarter, the manufacturer should add just under 1 million units. By the way, BYD sold 28,039 NEVs in overseas markets in September, an increase of 12% from the previous month.
According to Tesla’s September statistics for China, 74,073 electric vehicles were exported, of which 30,566 were Model 3 and Model Y. Looking only at the vehicles remaining in the domestic market (43,507 units), Tesla is showing weakness. It was down 44% year-over-year and 33% month-over-month.
Among EV startups, three companies are close. Leapmotor recorded 15,800 NEVs, Nio 15,641 BEVs and Xpeng 15,310 BEVs in September. Leapmotor also sells vehicles with range extenders, but his two other companies in the portfolio are purely battery electric models. Neta sold 13,211 BEVs in September, while Geely’s Zeekr brand sold 12,053.
This number shows that more and more startups are reliably achieving five-figure results per month. It wasn’t that long ago that these companies were seeing occasional spikes of more than 10,000 units per month.
cnevpost.com (CAAM), cnevpost.com (BYD), cnevpost.com (Tesla), cnevpost.com (Leapmotor), ir.nio.com, ir.xiaopeng.com, cnevpost.com (Neta), cnevpost.com (Geeker)