The Chinese plug-in electric car market is returning to its best as October turned to be the third-best month ever.
The total volume increased 120% year-over-year to 147,285, which was enough to capture 7% of the car market. The overall car sales also increased in October, by 9%.
The market remains BEV-friendly, as 82% of the plug-in sales were all-electric cars. BEVs are also expanding much quicker (up 128% year-over-year) than PHEVs (up 93% year-over-year).
According to EV Sales Blog, the total passenger plug-in car sales during the first ten months of this year amounted to 839,758. The market share is 5.4% (including 4.3% for BEVs). The market share in 2020 is expected to exceed the market share in 2019.
Plug-in electric car sales in China – October 2020
The demand for this tiny, all-electric 4-seater is very strong and according to the latest news, the production level of up to 25,000 in October will increase to 30,000 in November and 33,000 in December.
Since there are already 52,672 Hong Guang MINI EV delivered to customers, there should be no problem to exceed 100,000 this year - not bad for an all-new model that entered the Chinese market in the Summer.
Despite the surge of Hong Guang MINI EV, Tesla Model 3 with stable sales (12,143 in October) will not have any problem to remain the top-selling model in 2020.
It's already at an unbelievable 94,492 YTD, so 120,000 would be our guess for 2020.
The next two best selling cars last month were also small BEVs: Great Wall Ora R1 / Black Cat (6,269) and Baojun E-Series (5,949). The top five was completed by the BYD Han BEV (5,055, excluding plug-in hybrid version).
Top 20 YTD by EV Sales Blog: