Summary
- Plugin vehicles are dominating the Chinese auto market, with over 1.27 million units sold in November, up 51% YoY
- BEVs accounted for 60% of plugin vehicle sales, PHEVs accounted for 31%, and EREVs made up 9%
- BYD is leading the market with multiple models in the top-selling EV list, including the BYD Song and BYD Seagull
- Geely is rising as a worthy competitor to BYD, with three models making it to the top 20 list in November
- In the overall brand ranking, BYD continues to lead, while Geely is rising and poised to take the third position from Toyota
Article
In the Chinese auto market, plugin vehicles are continuing to rise in popularity, with November sales reaching a new record of over 1.27 million units, a 51% increase from the previous year. Breakdown of sales by powertrain shows that BEVs, PHEVs, and EREVs are all experiencing growth, with BEVs leading the way at 60% of sales, followed by PHEVs and EREVs. The year-to-date tally for plugin vehicles is around 9.7 million units, with November seeing a market share of 52% for plugins and 31% for BEVs alone. This trend indicates a significant shift towards electrification in the Chinese auto market, with a potential end goal of full electrification before 2030.
In November, the top-selling models in China were all plugins, with the Tesla Model Y being the best-selling non-BYD model. ICE models were only present in the top 10 in the compact sedan category, highlighting the dominance of plugin vehicles in other categories. BYD continues to dominate the market across various categories, with models like the Han, Song, and Seagull leading the way. Geely is also making its mark with models like the Geome Xingyuan and Galaxy E5 gaining popularity and disrupting traditional market dynamics. As the market continues to evolve, expect to see more competition between BYD and Geely in the coming months.
The best-selling EVs in November included the BYD Song, Seagull, and Qin Plus, as well as the Tesla Model Y and Wuling Mini EV. These models continue to perform well in the market, with competitive pricing, performance, and brand strength contributing to their success. BYD’s dominance is reflected in the overall top 20 rankings, with several BYD models consistently ranking high in sales. Geely is also making a mark with promising new models like the Geome Xingyuan and Galaxy E5, indicating a potential shift in market dynamics in the future.
Looking at the overall brand ranking, BYD continues to lead the market with Volkswagen and Geely following close behind. Toyota has been surpassed by Geely in the race for the last spot on the podium, indicating Geely’s rise in the market. Legacy OEMs like Hyundai, Kia, GM, and Honda are experiencing sales drops, while startups like Leapmotor and Zeekr are gaining traction. The growing trend of new startups disrupting the market suggests a seismic shift in the industry, with promising growth potential for emerging players.
In the auto brand plugin vehicle ranking, BYD continues to dominate with a 32.9% share of the market. Tesla, Wuling, Li Auto, and Geely round out the top 5, with Wuling likely to end the year on the podium. Geely’s market share has been steadily increasing, making it the fastest-growing automotive group in China. The race for the top positions in the market is intensifying, with SAIC and Changan vying for the 4th spot. As the industry continues to evolve, expect to see more competition and innovation from both traditional automakers and new startups in China.
Read the full article here
