Plug-in electric car sales in China substantially increased in February, which is a positive sign after the slowdown in January (partially caused by the holidays).
According to EV Volumes' data, shared by Jose Pontes, some 454,591 new passenger plug-in electric cars were registered in China in February, which is 56 percent more than a year ago.
The plug-in market share improved to 33 percent (including 22 percent for all-electric and 11 percent for plug-in hybrid cars).
Results for the month:
- BEVs: *303,000 and 22% share
- PHEVs: *152,000 and 11% share
- Total: 454,591 (up 56%) and 33% share
* estimated from the market share
Plug-in electric car sales in China – February 2023
So far this year, almost 800,000 new plug-in electric cars were registered in China (up roughly 20 percent year-over-year), which is about 30 percent of the total volume.
After the first two months, it seems that after industry-wide price reductions applied to many models, sales improved and it might be another strong year for electrification.
Results year-to-date:
- BEVs: about *0.53 million and 20% share
- PHEVs: about *0.27 million and 10% share
- Total: 798,548 (up 20%) and 30% share
* estimated from the market share
For reference, in 2022, over 5.92 million new passenger plug-in electric cars were registered in China (83 percent more than in 2021).
Model rank
In terms of best-selling models, the BYD Song Plus (mostly PHEV with a fair share of BEV version) remains the number one in China. In February, more than 51,000 units were registered.
The market is dominated by Chinese models, specifically, the BYD brand, and the only non-Chinese model in the top 10 was the Tesla Model Y in fourth (25,526). Ahead of the Tesla Model Y, we can see the Wuling Hong Guang MINI EV microcar and BYD Qin Plus (BEV + PHEV).
Top 10 for the month:
- BYD Song Plus (BEVs + PHEVs): 51,592
- Wuling Hong Guang MINI EV: 30,267
- BYD Qin Plus (BEV + PHEV): 27,434
- Tesla Model Y: 25,526
- BYD Dolphin: 22,682
- BYD Yuan Plus (aka Atto 3) BEV: 20,279
- GAC Aion S: 16,827
- GAC Aion Y: 12,996
- BYD Han (BEV + PHEV): 12,265
- BYD Tang (BEV + PHEV): 12,029
After the first two months, the BYD Song Plus family already built up a significant advantage over other models.
Top 10 year-to-date:
- BYD Song Plus (BEVs + PHEVs): 101,765
- Wuling Hong Guang MINI EV: 46,683
- BYD Dolphin: 39,971
- Tesla Model Y: 39,710
- BYD Qin Plus (BEV + PHEV): 39,024
- BYD Yuan Plus (aka Atto 3) BEV: 38,371
- BYD Han (BEV + PHEV): 24,480
- GAC Aion S: 21,918
- Tesla Model 3: 21,056
- BYD Tang (BEV + PHEV): 20,919
* BEV and PHEV versions of the same models were counted together in the source.
Brands
BYD's advantage over other brands and manufacturers is staggering in China. So far this year, the company has almost a 39 percent market share. Tesla is the second best with a 7.6 percent share.
Top brands by share in the plug-in segment year-to-date:
- BYD: 38.8%
- Tesla: 7.6%
- SAIC-GM-Wuling: 6.6%
- GAC Aion: 5.1%
- Changan: 4.4%
- Li Auto: 4.1%
Top automotive groups by share in the plug-in segment year-to-date:
- BYD: 40.5%
including Denza brand - SAIC: 8.4%
including SAIC-GM-Wuling joint venture (between SAIC, GM and Liuzhou Wuling Motors) - Tesla: 7.6%
- GAC: 5.4%
- Geely-Volvo: 4.9%
- Changan: 4.8%
