Photography: BYD
The price war climate continues to push the Chinese market upwards. And NEVs (electric and plug-in hybrids) now represent a third of sales. And BYD remains well ahead.
In a Chinese market up 8.35% in August, to 2,582,000 units, NEVs continued to grow even faster. The 846,000 units represent a record volume, up 27% compared to August 2022, and 32.77% of total sales. This is the fourth consecutive month above 30%. Over the first eight months, penetration was 29.49%.
Of this volume, battery electrics (BEV) continue to take the lion’s share with 23.12% of sales, compared to only 9.64% for plug-in hybrids. However, the latter continue to grow more quickly, with an increase of 73% in August and 85% since January 1.
The latest plug-in hybrid or electric models with range extenders are enjoying great success, with their battery ranges now often exceeding 150 km.
Let’s put aside the 200 fuel cell cars sold in August…
Over the first 8 months of the year, 5.37 million electric or plug-in hybrid cars were sold. That’s almost as much as for the whole of 2022…
| August 2023 | Volume | Part | Evolution |
| Total market | 2 582 000 | 100% | +8,35% |
| – Dont NEV | 846 000 | 32,77% | +27,03% |
| – Dont BEV | 597 000 | 23,12% | +14,37% |
| – Dont PHEV | 249 000 | 9,64% | +73% |
| January – August 2023 | Volume | Part | Evolution |
| Total market | 18 208 000 | 100% | +8,07% |
| – Dont NEV | 5 370 000 | 29,49% | +39,51% |
| – Dont BEV | 3 860 000 | 21,20% | +29,13% |
| – Dont PHEV | 1 510 000 | 8,29% | +85,37% |
BYD remains the undisputed king of the Chinese market. It is still ahead of Volkswagen in the brand ranking, and alone occupies a third of NEV sales. Its runner-up is far away, since Tesla only represents 9% of sales… It is the only foreign manufacturer present in the top 10 brands.
| Share of NEV sales | |
| BYD | 33,7% |
| Tesla | 9,0% |
| Aion | 7,3% |
| Geely | 6,4% |
| Changan | 5,4% |
| SAIC-GM-Wuling | 4,9% |
| LI Auto | 4,9% |
| GreatWall | 3,3% |
| Nio | 2,7% |
| Leap motor | 2,0% |
Please note that the shares indicated above are calculated according to “legal entities” as is often the case in the Chinese market. Geely’s share therefore includes that of its various brands such as Lynk&Co or Zeekr. We nevertheless note the domination of Chinese manufacturers, the strong presence of brands dedicated to electricity, and therefore start-ups which are well ahead of historic manufacturers.
This market dynamism is certainly driven by the price war. But this should continue over the coming months, with a traditionally very dynamic last quarter, and new government measures to support the automobile market.
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