In July another 75,000 plug-in electric cars were sold in China
Plug-in electric car sales in China grew in July by 64% year-over-year, which is not as quick as it could be (in the three-digit range at the time), as new incentives now promote longer-range New Energy Vehicles, which translates to fewer sales of cheap lower-range BEVs.
Anyways, the market is progressing - many countries would be extremely satisfied with a growth rate of 64%.
In total, it's estimated that some 75,134 plug-in cars were sold last month at a market share of 3.9%.
During the first seven months of 2018, sales already exceeded 451,000, at an average of 3% of the market.
Plug-in electric car sales in China – July 2018
The best selling model in July was the new BYD Yuan (second month on the market), which surged to 4,174 (6,192 YTD), but it's currently at #22 YTD.
The BYD Yuan offers up to 305 km (190 miles) of range using 42 kWh battery (in the real world it will be probably below 150 miles). At a price of around $25,000, it's an attractive value proposition. There are two powertrain options (both with permanent magnet synchronous motor):
- 70 kW and 180 Nm
- 160 kW and 360 Nm (0-50 km/h or 31 mph in 3.9 seconds)
Plug-in electric car sales in China – July 2018 (Source: EV Sales Blog)
Source: EV Sales Blog