Korean media: China's new energy vehicle sales are expected to exceed internal combustion engine vehicles for the first time!
On October 10, the Korean media "Seoul Economic Daily" published an article stating that this year, China's new energy vehicle sales are expected to exceed those of internal combustion engine vehicles for the first time. It is estimated that for every two new cars purchased by Chinese consumers, one will be a new energy vehicle.
The China Association of Automobile Manufacturers announced that from January to August, new energy vehicle sales increased by 36.7% year-on-year to 9.62 million units, accounting for 45.5% of total new car sales. Domestic new energy vehicle sales reached 8 million units, accounting for 48% of total sales. According to the current trend, it is likely to reach a 50% market share by the end of the year.
In August, the production and sales of automobiles in China reached 2.815 million and 2.857 million units respectively, increasing by 13% and 16.4% year-on-year. In August, the production and sales of new energy vehicles reached 1.391 million and 1.395 million units respectively, increasing by 27.4% and 26.8% year-on-year. The sales of new energy vehicles accounted for 48.8% of total new car sales, close to half. In 2020, China announced a target to increase the proportion of new energy vehicle sales to 20% by 2025. However, due to fierce competition among manufacturers, China has exceeded the target ahead of schedule.
Notably, the sales of pure electric vehicles also increased this year among new energy vehicles. From January to August, the sales of pure electric vehicles reached 6.158 million units, increasing by 46.1% year-on-year. In comparison, the growth rate of plug-in hybrid electric vehicles was relatively slower, increasing by 22.8% to 3.46 million units.
The gap in the new energy vehicle market has further widened. By the end of August, the top 15 automotive companies sold 9.1 million new energy vehicles, with a market share of 95.1%, up 1.5 percentage points compared to the same period last year. Three major companies, BYD, Geely Auto, and SAIC Group, together occupied a 51.2% market share, showing a clear dominant position. With the intensifying domestic market competition, companies are increasingly turning their attention to overseas markets. By August, exports reached 4.29 million units, increasing by 13.7% year-on-year. Among them, exports of new energy vehicles increased by 87.3% to 1.53 million units, and in August, they increased nearly double year-on-year to 224,000 units.
Original: www.toutiao.com/article/1845583215675456/
Statement: This article represents the views of the author.