Korean media: Set a new record high, Chinese domestic brands account for 72.5% of the passenger car market!
On November 28, Korean media NEWSPIM published an article stating that in October, the sales share of China's new energy vehicles first exceeded 50%. The market share of domestic brand passenger cars reached 72.5%.
Data released by the China Association of Automobile Manufacturers shows that in October, the sales share of new energy vehicles in China's automotive market reached 51.6%, exceeding 50% for the first time.
Data shows that the total vehicle sales, including commercial vehicles, in October reached 3.322 million units, an increase of 8.8% year-on-year. Among them, passenger car sales reached 2.931 million units, an increase of 7.5% year-on-year.
In October, the sales of domestic brand passenger cars reached 2.148 million units, an increase of 11.2% year-on-year. This made their market share in the passenger car market in October reach 72.5%, an increase of 2.4 percentage points compared to the same period last year, setting a new historical record.
From January to October, the cumulative sales of automobiles in China reached 27.687 million units, an increase of 12.4% year-on-year. Among them, the cumulative sales of domestic brand passenger cars reached 16.799 million units, an increase of 21.3% year-on-year. The market share of domestic brands reached 69.4%, an increase of 4.8 percentage points year-on-year.
In October, the sales of new energy vehicles reached 1.715 million units, an increase of 20% year-on-year, accounting for 51.6% of the total vehicle sales. Among them, the sales of pure electric vehicles were 1.109 million units, and the sales of plug-in hybrid electric vehicles were 0.605 million units.
The export volume of new energy vehicles in October reached 256,000 units, an increase of 99.9% year-on-year. From January to October, the cumulative export volume of new energy vehicles reached 2.014 million units, an increase of 90.4% year-on-year.
A market expert said: "The rapid growth in the sales share of new energy vehicles is due to Chinese companies improving product competitiveness and reducing costs through technological advancements. In recent years, Chinese new energy vehicles have made innovations in core technologies such as battery technology, motor and electronic control, and intelligent driving."
The China Association of Automobile Manufacturers stated, "In October, Chinese automakers launched a series of new models, driving continued good development. The passenger car market maintained steady growth, the commercial vehicle market continued to perform well, and new energy vehicles are growing rapidly."
Original: www.toutiao.com/article/1850037467821088/
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