- Plug-in electric car sales in China continued to grow in May, taking more than a third of the entire car market.
- BEVs outsell PHEVs more than 2:1 in China.
- BYD is the most popular brand and automotive group in China.
- Tesla is the second most popular brand in China.
- The plug-in electric car market in China is expected to continue to grow in the coming years.
Here are some additional details
- In May, 614,361 new passenger plug-in electric cars were registered in China, which is 54 percent more than a year ago.
- Rechargeable cars represent some 35 percent of the total new passenger car sales, which is far more than in Europe or in the United States.
- BYD Qin Plus family of BEV and PHEV versions was the most popular one in May, with 42,887 registrations.
- Tesla Model Y was the most popular all-electric car in May, with 31,054 registrations.
- BYD Song Plus remains at the top of the year-to-date ranking, with 215,825 registrations.
- Tesla Model Y is the second most popular model year-to-date, with 152,461 registrations.
According to the data from EV Volumes, plug-in electric car sales in China continued to grow in May 2023, accounting for over a third of the entire car market. A total of 614,361 new passenger plug-in electric cars were registered in China in May, marking a 54% increase compared to the previous year.
Rechargeable cars represented about 35% of the total new passenger car sales in China, surpassing the figures for Europe and the United States.
China also accounted for approximately 60% of the global plug-in car registrations for May, highlighting its dominant position in the electric vehicle market. Battery electric vehicles (BEVs) outsold plug-in hybrid electric vehicles (PHEVs) by more than 2:1 in China, with BEV sales exceeding 400,000 and comprising 24% of the total market in May.
In terms of year-to-date results, China registered over 2.5 million new plug-in electric cars in the first half of 2023, representing a 41% increase compared to the previous year. This accounted for about 35% of the total volume of new car registrations in China.
The most popular models in May were the BYD Qin Plus family (BEV and PHEV versions) with 42,887 units registered, followed by the BYD Song Plus plug-in family with 37,610 units. However, when considering all-electric cars specifically, the Tesla Model Y took the top spot with 31,054 units registered, slightly ahead of the BYD Dolphin with 30,441 units. Among the top 10 plug-in models, four were BEVs, and six were in the all-electric category.
Looking at the cumulative sales for the year, the BYD Song Plus maintained a significant lead over other models, while the BYD Qin Plus narrowed the gap. The Tesla Model Y remained the most popular all-electric car.
BYD emerged as the most popular brand and automotive group in China, with a market share of 36% in the plug-in segment year-to-date. Tesla followed with 8.7% market share, and GAC Aion, SAIC-GM-Wuling, and Li Auto rounded out the top five brands. In terms of automotive groups, BYD led with 37.8% market share, including the Denza brand, followed by Tesla, SAIC, GAC, and Geely-Volvo.
These statistics highlight China’s strong position in the plug-in electric car market, with significant growth and a diverse range of models and brands capturing consumer interest.
The plug-in electric car market in China is continuing to grow rapidly. BYD is the dominant player in the market, but Tesla is also a major player. The market is expected to continue to grow in the coming years, and it will be interesting to see how the competition between Chinese and foreign brands plays out.
Here are some additional thoughts on the conclusion
- The growth of the plug-in electric car market in China is a positive development for the global environment. China is the world’s largest car market, so the growth of the electric vehicle market there will help to reduce air pollution and greenhouse gas emissions.
- The success of BYD in the Chinese market is a sign that Chinese companies are becoming increasingly competitive in the global electric vehicle market. This is good news for the global economy, as it means that there will be more competition to drive down prices and improve technology.
- The success of Tesla in the Chinese market is also a positive development. It shows that Tesla is still able to compete with Chinese brands in the Chinese market, and it is a sign that Tesla’s products are well-received by Chinese consumers.
The success of BYD and Tesla in this market is a positive development for the global environment and the global economy.