BYD, Tesla Notch Significant Improvements in January-April SUV Sales

According to the China Association of Automotive Manufacturers (CAAM), from January to April of 2022, among the country’s top ten SUV manufacturers in terms of sales volume, a total of 1.799 million units were sold, accounting for 57.8% of total SUV sales. BYD and Tesla saw the most remarkable annual sales growth rates, in addition to GAC Toyota, while all other major firms recorded declines during the period.

CAAM also found that in the first four months of 2022, the 10 top-selling Chinese auto firms sold a total of 5.586 million vehicles, accounting for 85.8% overall.

Specifically, SAIC ranked first in sales for the first four months of this year, followed by Dongfeng Motor Corporation and China FAW Group. In addition, among the top ten enterprises in terms of automobile sales, compared with the same period of last year, BYD maintained a remarkable sales growth rate. GAC Motor and Chery had slightly lower growth rates, while the rest encountered slower growth.

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CAAM also published details of the economic operation of China’s automobile industry in April. The sales volume of NEVs in the country during April was 299,000, up 44.6% year-on-year. From January to April, the cumulative sales volume of NEVs was 1.556 million, up 112.2% year-on-year.

According to CAAM, automobile production and sales showed a significant decline in April. The monthly production and sales volume was about 1.2 million units – the lowest monthly volume in the past decade. Both passenger vehicles and commercial vehicles showed a sharp monthly and annual decline. Comparatively speaking, although NEVs were also affected by the pandemic, they performed better than the same period of last year, with a basically satisfactory overall performance. In addition, exports in April declined slightly compared with the same period last year.