The plug-in car market in China is booming.
In May, nearly 95,000 New Energy Cars were sold at a record 5% market share.
The rate of growth year-over-year was high 128% and a new monthly all-time record is expected soon (the current record was set at 102,000 in December 2017).
So far this year, nearly 295,000 plug-in electric cars were sold in China, compared to less than 100,000 in the U.S.
Only around 7% of total sales come from foreign manufacturers.
Plug-in electric car sales in China – May 2018
The top five models for the month were: BAIC EC-Series (12,624), BYD Qin PHEV (4,496), SAIC Baojun E100 (4,310), Zhidou D2 EV (4,262) and BAIC EX-Series (4,034).
The biggest supplier of plug-ins in China is BAIC, which not only sold 12,625 EC-Series, but also 4,034 EX-Series (a two-year-old crossover BEV, which now is offered with a higher capacity 48 kWh battery for $28,500 before incentives).
The SAIC Baojun E100 is getting a bigger battery and more range mainly because the Chinese government is now subsidizing BEV models with higher range.
In such circumstances, BYD is losing some market share, but that could change as new models enter the pipeline.
Plug-in electric car sales in China – May 2018 (Source: EV Sales Blog)
Source: EV Sales Blog