SHANGHAI, Nov 3 (SMM) - A total of 624,200 new energy vehicles were sold globally in September, an increase of 96.08% YoY and 23.32% MoM, and setting a record high. The shortage of car chips is the biggest obstacle facing the global auto market, but the factors that affected car sales varied by country. China imposed power rationing on a large scale in September under the energy consumption dual control policy and shortage of coal supply. This, together with high commodity prices and international logistics costs, slowed down supply and demand in the manufacturing sector. In the United States, tight chip inventories and supply chain disruptions are weakening the auto industry’s recovery from the pandemic. In addition, severe weather and floods on the Gulf Coast and East Coast also affected sales in September. The main reason for the decline in car sales in Europe is still the shortage of semiconductor supply, which led to insufficient supply of cars. Other influencing factors include rising raw material costs and the energy crisis.
China ranked the top of the three major new energy vehicle markets in the world, selling a total of 390,500 NEVs in September, an increase of 15.19% MoM. The United States sold just 116,500 NEVs in September, a decrease of 3.09% MoM. Europe sold 207,300 NEVs in September, an increase of 49.3% MoM.
China accounted for 54.5% of the global NEV market, down 5.5 percentage points from August. The market share of Europe increased 6.1 percentage points MoM to 33.2%, while that of the US dropped 0.6 percentage point to 8.9%.
Tesla and BYD ranked the top two in terms of sales in September, which sold 127,200 units and 70,000 units respectively, up 52.82% and 15.67% respectively from August.
The sales of different car models saw major changes in September. The sales of Model Y, Model 3, and Wuling Hongguang Mini were 66,100 units, 57,100 units and 35,200 units respectively, ranking the top three.
The recurrence of the global pandemic has affected the supply of chips and economic recovery, forcing auto companies to reduce production and leading to sluggish sales of fuel cars. However, the demand for NEVs has maintained steady growth, and the trend of electrification of auto companies is unstoppable.
It is expected that in the share of electric vehicles in the global automotive market will continue to expand in Q4.
