The passenger car market in China continues its rebound in July, expanding by about 30% year-over-year. That's mostly thanks to a new government incentive for conventional models with engines below 2,000cc and prices of up to 300,000 CNY ($43,760), which since June are eligible for a 50% reduction in the registration tax.
The plug-in electric car segment is growing very fast and, once again, more than doubled compared to July 2021.
According to EV Volumes' data, shared by Jose Pontes, some 505,007 new passenger plug-in electric cars were registered in China in July, which is 112% more than a year ago.
The spectacular growth rate is accompanied by an impressive market share of around 28%.
It's important to note also that the total plug-in car sales in China (including micro cars) are estimated at 60% of the global sales in July. It means that the rest of the world clearly has some work to do.
Sales of all-electric cars almost doubled last month, while plug-in hybrids nearly tripled - although they remain in the minority of the rechargeable segment.
Results for the month:
- BEVs: about 368,000 (up 96%) and 20% share
- PHEVs: about 137,000 (up 174%) and 8% share
- Total: 505,007 (up 112%) and 28% share
Plug-in electric car sales in China – July 2022
So far this year, over 2.8 million new passenger plug-in electric cars were registered in China.
- BEVs: about *2.21 million and 20% share
- PHEVs: about *0.66 million and 6% share
- Total: 2,871,892 and 26% share
* estimated from the market share
For reference, in 2021, the total plug-in electric car registrations increased by about 153% year-over-year to over 3.2 million (from 1.27 million in 2020).
According to the China Passenger Car Association (CPCA)'s updated forecast, some 6 million passenger plug-in electric cars might be sold in China in 2022.
July's results are dominated by the surge in BYD sales, which exceeded 162,000. As we can see, there are five BYD plug-ins in the top six and six in the top 10.
The most registered model is the BYD Song (all plug-in versions counted together) at 37,784 (32,367 PHEVs and 5,417 BEVs). That's even more than in the case of the Wuling Hong Guang MINI EV (37,128).
Interestingly, there are no Teslas in the top 10 this time (most of the production has been exported), while the Volkswagen ID.4 noted 11,414 units at #9.
Top 10 for the month:
- BYD Song (BEV + PHEV): 37,784
- Wuling Hong Guang MINI EV: 37,128
- BYD Qin Plus (BEV + PHEV): 30,093
- BYD Han (BEV + PHEV): 25,270
- BYD Dolphin: 20,493
- BYD Yuan Plus BEV: 19,239
- GAC Aion Y: 12,530
- BYD Tang (BEV + PHEV): 11,501
- Volkswagen ID.4: 11,414
- Chery eQ1/Little Ant: 11,202
* BEV and PHEV versions of the same models were counted together in the source.
Year-to-date, Wuling Hong Guang MINI EV remains the market leader in terms of volume, while the BYD Song (BEV + PHEV) strengthened in the #2 spot.
The BYD Qin family (BEV + PHEV) surpassed the Tesla Model Y as the third most popular plug-in.
There are six BYDs in the top 10, which once again reminds us of how strong the brand is this year. Only time will tell whether Tesla will be able to rebound and improve its position thanks to an upgrade applied to the Giga Shanghai plant. Meanwhile, the Volkswagen ID.4 climbed to #17 and 45,664 units.
Top 10 year-to-date:
- Wuling Hong Guang MINI EV: 244,956
- BYD Song (BEV + PHEV): 196,875
- BYD Qin Plus (BEV + PHEV): 162,491
- Tesla Model Y: 140,915
- BYD Han (BEV + PHEV): 122,395
- BYD Dolphin: 79,007
- BYD Yuan Plus BEV: 74,085
- Li Xiang One EREV: 70,826
- BYD Tang (BEV + PHEV): 67,326
- Tesla Model 3: 65,183
The list of brands, once again, reveals a pretty strong position for BYD - no change compared to the previous month.
Top brands by share in the plug-in segment year-to-date:
- BYD: 27.8%
- SAIC-GM-Wuling: 9.5%
- Tesla: 7.2%
- Chery: 4.8%
- GAC: 4.4%
- Volkswagen: 3.4%
Top automotive groups by share in the plug-in segment year-to-date:
- BYD: 27.8%
- SAIC: 12.9%
including SAIC-GM-Wuling joint venture (between SAIC, GM and Liuzhou Wuling Motors)
- Tesla: 7.2%
- Geely-Volvo: 5.1%
- Chery: 4.8%
- GAC: 4.5%
- Volkswagen Group: 4.3%