China Passenger Car Association: Retail Penetration Rate of New Energy Vehicles in November was 20.8%; Chinese Auto Brands Make Up Over One Third of Sales

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On Wednesday, the China Passenger Car Association released an analysis of the national passenger car market in November 2021.

Overall situation

Data shows that the wholesale sales volume of new energy passenger cars reached 429,000 in November, up 17.9% from the previous month and 131.7% from last year. From January to November of this year, the wholesale volume of new energy passenger cars registered 2.807 million, up 190.2% year-on-year.

In November, the retail sales of new energy passenger cars reached 378,000, up 122.3% year-on-year and 19.8% quarter-on-quarter. From January to November, the retail sales of new energy vehicles were 2.514 million, up 178.3% year-on-year.

Market peneration rate of new energy vehicles

The wholesale market penetration rate of new energy vehicle manufacturers was 19.9% in November and 15.0% from January to November, which was significantly higher than that of 5.8% in 2020.

The market penetration rate of new energy vehicles varied across different classifications. For Chinese brands, the rate was 33.2% while for luxury cars it was 24.6%. However, the rate in major joint venture brands sat at a lowly 3.9%. In November, the wholesale sales volume of pure electric vehicles was 343,000, a year-on-year increase of 121.1% while the sales volume of plug-in hybrid electric vehicles was 85,000, up 187.2% year-on-year, accounting for 20%.

In November, the sales volume of high-end electric vehicles saw a strong increase, and the development of affordable electric vehicles was robust. Among them, the wholesale sales volume of A00 class was 108,000, and the share reached 31% of the entire amount of  pure electric vehicle sales. The wholesale sales volume of A0 class hit 53,000, occupying about 15%.A-class electric vehicles accounted for 25% while B-class electric vehicles accounted for 26% of the sector, seeing 91,000 units sold for an increase of 15% from the previous month.

The domestic retail market penetration rate of new energy vehicles was 20.8% in November and 13.9% from January to November, which was significantly higher than that of 5.8% in 2020. In November, the rate of new energy vehicles in Chinese brands was 37.4%, while luxury cars brands accounted for 19.4%, and major joint venture brands accounted for only 3.6%.

In addition, the export of new energy vehicles maintained strong growth in November, with Tesla in China exporting 21,127 vehicles, SAIC passenger cars exporting 6,110 vehicles, Geely Auto Group 470 vehicles, Great Wall Motor 426 vehicles and BYD 404 vehicles. The export of new energy vehicles by other car companies also saw a gain in momentum.

SEE ALSO: China’s Ministry of Finance Issues $6 Billion Advance Subsidy for New Energy Vehicles in 2022

Sales volume of new energy passenger cars

In November, the new energy passenger car market diversified with SAIC and GAC Motor performing relatively well. Traditional car companies continued to perform well. BYD’s pure electric and plug-in hybrid vehicles’ performance also showed strong numbers.

There are 14 enterprises with wholesale sales exceeding 10,000 units, showing an overall increase in the industry. BYD sold 90,546 vehicles, Tesla China sold 52,859 vehicles, SAIC-GM-Wuling 50,141 vehicles, Great Wall Motors 16,136 vehicles, Xpeng Motors 15,613 vehicles, GAC 15,035 vehicles, Chery 14,482 vehicles, Li Auto 13,485 vehicles, NIO 13,090 vehicles and SAIC 10,705 vehicles and Hozon 10,013 vehicles.

In November, the sales volume of Chinese new energy vehicle companies such as Xpeng Motors, Li Auto, NIO, Hozon Auto, Leap Motor and WM Motor performed well in general. Hozon Auto sold more than 10,000 vehicles, and second tier companies such as Leap Motor and WM Motor also reached monthly sales of more than 5,000 vehicles.

Among the major joint venture brands, SAIC Volkswagen and FAW-Volkswagen, their wholesale sales volume registered 22,691 units, accounting for 62% of the whole sales of major joint ventures. BMW Brilliance Automotive sold 5,194 new energy vehicles, which was also an improvement over previous months. Other joint ventures and luxury brands still need time to see better numbers.

In addition, 66,400 ordinary hybrid passenger cars were sold wholesale in November, up 44% year-on-year and 8% quarter-on-quarter.