The passenger car market in China expanded by 29% year-over-year in August, thanks to registration tax reductions for some ICE models (engines below 2,000cc and price up to 300,000 CNY / $42,100), as well as ongoing growth of plug-in models.
The plug-in electric car segment almost doubled compared to a year ago to a near record level.
According to EV Volumes’ data, shared by Jose Pontes, some 552,000 new passenger plug-in electric cars were registered in China in August, which is 92% more than a year ago and about 60% of the global plug-in car market.
Market share of plug-ins improved to 30%, including 22% BEVs and 8% PHEVs. We guess that in both cases, the number will be even better later this year.
Results for the month:
BEVs: about 412,000 (up 80%) and 22% share
PHEVs: about 140,000 (up 137%) and 8% share
Total: 552,195 (up 92%) and 30% share
So far this year, over 3.4 million new passenger plug-in electric cars were registered in China – that’s more than in the entire year 2021.
BEVs: about *2.63 million and 20% share
PHEVs: about *0.79 million and 6% share
Total: 3,412,938 and 26% share
In August, BYD continued to be the main electrification force in China, putting several of its models in the top 10 for plug-ins (all plug-in versions counted together).
Interestingly, both the Song and Qin families were above the Wuling Hong Guang MINI EV, with the Tesla Model Y just off the podium.
The BYD Song is currently really strong with 36,791 PHEVs and 5,688 BEV registrations (new record levels). Who knows how high it might go – maybe even 50,000 per month total?
Overall, the entire market is booming and it appears that most of the models set new or near-record results.
Top 10 for the month:
- BYD Song Plus (BEV + PHEV): 42,479
- BYD Qin Plus (BEV + PHEV): 35,688
- Wuling Hong Guang MINI EV: 33,866
- Tesla Model Y: 31,796
- BYD Han (BEV + PHEV): 25,987
- BYD Dolphin: 23,469
- BYD Yuan Plus BEV: 18,006
- GAC Aion S: 11,683
- GAC Aion Y: 11,012
- Hozon Neta V EV: 10,236
* BEV and PHEV versions of the same models were counted together in the source.
Year-to-date, the Wuling Hong Guang MINI EV remains the market leader in terms of volume, but its advantage over the BYD Song (BEV + PHEV) decreased.
The BYD Qin family, on the other hand, strengthened above the Tesla Model Y, despite Tesla having a really good month.
Top 10 year-to-date:
- Wuling Hong Guang MINI EV: 278,822
- BYD Song Plus (BEV + PHEV): 239,354
- BYD Qin Plus (BEV + PHEV): 198,179
- Tesla Model Y: 172,711
- BYD Han (BEV + PHEV): 148,382
- BYD Dolphin: 102,476
- BYD Yuan Plus BEV: 92,091
- BYD Tang (BEV + PHEV): 77,489
- Li Xiang One EREV: 75,397
- Chery QQ Ice Cream: 72,094
If we compare brands, it turns out that BYD is on track to take a third of the market.
Top brands by share in the plug-in segment year-to-date:
- BYD: 28.4%
- SAIC-GM-Wuling: 9.1%
- Tesla: 7.1%
- Chery: 4.8%
- GAC: 4.5%
- Volkswagen: 3.8%
- Geely: 3.6%
Top automotive groups by share in the plug-in segment year-to-date:
- BYD: 28.4%
- SAIC: 12.0%
including SAIC-GM-Wuling joint venture (between SAIC, GM and Liuzhou Wuling Motors)
- Tesla: 7.1%
- Geely-Volvo: 5.4%
- Chery: 4.9%
- GAC: 4.7%
- Volkswagen Group: 4.3%