NEV Passenger Car Penetration Rate is Estimated at 25% in 2022

Published: Jan 12, 2022 14:18

Save

On January 11, Passenger Car Market Information Joint Conference (CPCA) released the 2021 national passenger car market analysis.

SHANGHAI, Jan 12 - On January 11, Passenger Car Market Information Joint Conference (CPCA) released the 2021 national passenger car market analysis. According to CPCA, 3.312 million units of new energy passenger vehicles were sold wholesale in 2021, an increase of 181.0% year-on-year. Among them, wholesale sales of new energy passenger vehicles reached 505,000 units in December 2021, up 138.9% year-on-year and 17.8% month-on-month. 423,000 units of pure electric vehicles were sold wholesale, up 137.9% year-on-year. And 82,000 units of plug-in hybrid vehicles were sold, up 143.9% year-on-year and accounting for 16% of the total.

Throughout 2021, the retail sales of new energy vehicles stood at 2,989,000 units, an increase of 169.1% year-on-year. Among them, retail sales of new energy passenger vehicles reached 475,000 units in December 2021, up 128.8% year-on-year and 25.4% month-on-month.

By comparison, 17.79 million units of conventional fuel vehicles were sold wholesale in 2021, down 4% year-on-year, and 17.16 million units of fuel vehicles will be sold at retail, down 6% year-on-year.

In terms of market penetration, the wholesale penetration rate of new energy vehicle manufacturers in 2021 was 15.7%, a significant increase from 5.8% in 2020. Among them, the wholesale penetration rate of new energy vehicle manufacturers in December 2021 was 21.3%, and the penetration rate of new energy vehicles of independent brands was 35.2%; the penetration rate of new energy vehicles in luxury vehicles was 27.2%; while the penetration rate of new energy vehicles of mainstream joint venture brands was only 3.7%.

The domestic retail penetration rate of new energy vehicles in 2021 was 14.8%, a significant increase from 5.8% in 2020. Among them, the domestic retail penetration rate of new energy vehicles in December 2021 was 22.6%, and the penetration rate of new energy vehicles among independent brands was 39%; the penetration rate of new energy vehicles among luxury vehicles was 32.7%; while the penetration rate of new energy vehicles among mainstream joint venture brands was only 3.3%.

Previously, CPCA expected new energy passenger car sales to stand at 4.8 million units in 2022. On January 11, it revised its estimate that new energy passenger car sales should be adjusted to more than 5.5 million units in 2022, with a penetration rate of about 25%; new energy vehicle sales are expected to exceed 6 million units, with a penetration rate of about 22%.

NEV sales

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

4 hours ago

NEVs May Have to Pay Road Maintenance Fees Too? Insiders Reveal Tax and Fee Reforms Including "Road Maintenance Fees"

Recently, the continuously increasing curb weight of NEVs has become a hot topic in the industry, sparking heated discussions on whether NEVs should pay "road maintenance fees." According to multiple industry insiders, relevant authorities are already studying related policies. In addition to the allocation of road maintenance fees, this will involve more tax and fee systems related to the automotive industry, in order to make the system "keep pace with the times" and adapt to the new industry landscape. This means that the tax exemption benefits for NEVs may gradually phase out, shifting from "industry support" to "cost sharing." Wang Ning, Director of the Center for Automotive Industry and Technology Strategy at the School of Automotive and Energy, Tongji University, said in an interview, "From a long-term perspective, 'equal rights for gasoline and electric vehicles' is the future trend." Cui Dongshu, Secretary General of the CPCA, who was the first to propose the special policy of converting road maintenance fees into taxes, also explicitly stated that the traditional road tax and fee system, which is tied to fuel consumption, has shown significant structural imbalance, making tax system iteration and upgrading imperative.

4 hours ago

6 hours ago

[Automotive: CATL And Xiamen Public Transport Focus On Cooperation In Vehicle-To-Grid And Other Areas]

On June 12, CATL and Xiamen Public Transport Group completed a signing ceremony. The two parties will focus on areas such as vehicle aftermarket services, battery swap network construction, and vehicle-to-grid (V2G) technology. This cooperation aims to maximize the energy value of public mobility while supporting Xiamen in achieving its "dual carbon" goals. Zhang Qinghui, Director of the Big Data Center of Xiamen Public Transport Group, and Wang Chunhui, Executive Vice President of CATL's Bus Business Unit, signed the agreement on behalf of the respective parties. Lin Rongsheng, Chairman of Xiamen Public Transport Group, and Wang Hui, President of CATL's Bus Business Unit, along with others, attended and witnessed the signing ceremony.

6 hours ago

[Energy Storage: BYD Energy Storage Assists In Official Operation Of Hungary's Largest Battery Energy Storage Project]

Recently, the largest battery energy storage project in Hungary, invested and constructed by Greenvolt Power, was officially put into operation, and an inauguration ceremony was held at the project site. The project has a scale of 99.8MW/288.6MWh, with BYD Energy Storage providing 288.6MWh of its Cube Battery Energy Storage System. Following its operation, this project will significantly enhance the regulation capability and power supply reliability of the local grid, support the large-scale grid integration of renewable energy in Hungary and the Central and Eastern European region, and accelerate the green transformation of the local energy structure.

6 hours ago