Both Old and New Players in NEV Market Reported Robust Sales

SHANGHAI, Mar 11 (SMM) - In January, 313,000 new energy passenger vehicles were insured, a sharp increase of 114% from 146,000 units in the same period last year, but a 35% decline from December 2021. The NEV sales of both long-established car makers and start-ups increased significantly. For example, BYD, SAIC-GM-Wuling, Great Wall, Chery, NIO, LiAuto and Xiaopeng saw robust sales. The market supply was further diversified, but this also intensified market competition.

The top ten best-selling models accounted for 42% of the domestic new energy market in January. Six out of the top ten NEV models came from BYD. BYD Dolphin, which was sold at an unit price of around 100,000 yuan, has become very popular with young people since its debut. From the perspective of battery type, the installed capacity of LFP batteries of the top ten models was 3.1 GWH and accounted for 76%, which continued to surpass that of NMC batteries. The installed capacity of NMC batteries stood at 1 GWH and its proportion declined to 24%.