China: NEV sales up for the year

China: NEV sales up for the year

280,000 New Energy Vehicles were sold in China in April, up 50.1 percent from the same month last year but down 38.5 percent from March 2022, making April the weakest month of the year so far.

So far, February has been the weakest month, with 317,000 NEVs sold, while January and March would each see over 400,000 New Energy Vehicles sold. While February's numbers can be explained primarily by the holiday festivities surrounding Chinese New Year (and thus lack of sales days in the already shorter month), the situation is different in April, where the strict Corona lockdown in numerous cities such as Shanghai is likely to have been the biggest factor.

Of the 280,000 new NEV cars, 214,000 were BEVs and 66,000 were PHEVs, a 76.4 percent to 23.6 percent split, shifting the ratio slightly back in favor of plug-in hybrids compared to March (81 percent to 19 percent). In terms of wholesale sales, the NEV share was 29.6 percent in April, up from 11.2 percent a year earlier.

However, the weaker April cannot completely slow down the overall market trend, with 1.35 million new energy vehicles sold in China so far this year, up 128.4 percent from January to April 2021.

The aforementioned lockdown around Shanghai also had a massive impact on the manufacturer rankings in April. The usual pattern of BYD being ahead in New Energy Vehicles (i.e. BEV + PHEV), but Tesla being ahead in pure electric cars, doesn't apply in April. BYD is still by far the largest NEV manufacturer with 105,475 NEVs. However, BYD is also ahead in the pure BEV rankings with 57,403 BEVs - and 48,702 PHEVs were also sold.

This is of course due to Tesla, which as we all know had to keep its Gigafactory Shanghai closed for several weeks in April, after which it was only able to resume production with one shift instead of three. In April, the CPCA (China Passenger Car Association) shows just 1,512 BEVs for Tesla. These have all stayed in China, no vehicle has been exported.