Global NEV Sales Reached 915,000 Units in Aug, with China Taking up 70% Global Market Share

SHANGHAI, Sep 30 (SMM) - In August 2022, a total of 915,000 new energy vehicles were sold globally, an increase of 8% month-on-month and a year-on-year increase of 76%. The sales in the first eight months of 2022 totalled 5.965 million units, a year-on-year increase of 72%. Among them, pure electric vehicle sales reached 691,000 units, an increase of 11% month-on-month, accounting for 76% of the total market, while a total of 224,000 plug-in hybrid models were sold, flat month-on-month, accounting for the remaining 24%. In detail, China, as the largest single market of new energy vehicles, posted firm growth in total sales of 12% month-on-month and 109% year-on-year to 569,000 units, accounting for 70% of the global share. Europe sold 155,000 NEVs in August, an increase of 1% MoM and 7% YoY. The sales in Europe are mainly concentrated in seven countries, namely Germany, France, Britain, Norway, Italy, Sweden and Belgium, and the CR7 exceeds 80%. The total sales in the US recorded 83,000 units, down 3% MoM and up 70% YoY.

In terms of car companies, BYD sold 174,000 vehicles globally in August, an increase of 7% month-on-month and 188% year-on-year. BYD is currently actively exploring overseas markets, and has set foot in Japan, Thailand and other overseas markets in just two months. Furthermore, BYD held a European online press conference in September for new energy passenger vehicles, and launched three models targeting the European market, including the Han, Tang and Yuan PLUS with the official pre-sale price announced to further promote BYD's global positioning.

In August, the transformation of Tesla's production line was completed, and the production capacity increased as expected with sales rising as a natural result. The global sales in August totalled 138,000 units, up 81% MoM and 66% YoY. Recently, the second phase of the production expansion project of Tesla's Shanghai plant was completed with commissioning started in early September. When the expansion project is officially put into production, Tesla's overall sales in China are expected to rise to a higher level.

Kia Motors sold 11,000 NEVs globally in August, down 16% MoM and up 41% YoY. The Kia brand has been under tremendous pressure in the Chinese market in recent years. Fortunately, Kia maintained its seat in the top ten list in August with its outstanding product performance in the global market. In recent years, China's auto market has been at the forefront in terms of new energy transformation and intelligence. In order to better take advantage of China's local digitalisation trend, Kia is also actively expanding its R&D efforts in China with facilities in Yantai city (in Shandong province) and Shanghai.

In terms of model performance, Tesla Model Y sales regained its championship, with global sales of 91,000 units in August, a month-on-month increase of 135% and a year-on-year increase of 161% thanks to the centralised release of backlogged orders in August. Wuling Hongguang MINIEV firmly occupies the leading position in terms of sales via its outstanding cost effectiveness. In August, the global sales was 49,000 units, although it fell slightly by 13% month-on-month, it rose 19% year-on-year. In the top ten list, BYD took 6 seats. Qin, Song, Yuan and other family series are among BYD's popular models. In particular, Song DM sales recorded 37,000 units globally in August, an increase of 11% month-on-month and a year-on-year increase of 322%, which is still the "pillar” of BYD family. Spring Electric, released by Renault, entered the top ten list for the first time, with global sales of 12,000 units in August, an increase of 34% month-on-month and a year-on-year increase of 146%.

In August, China's new energy vehicle sales reached a record high of 638,000 units in a single month, an increase of 12% month-on-month and a year-on-year increase of 109%. Boosted by the purchase tax reduction and exemption policy, coupled with the low base in 2021 caused by the shortage of chips in the same period last year, China's auto market achieved a relatively significant year-on-year growth in August this year. Sales in the US market fell slightly by 3% month-on-month and added 70% year-on-year. In August, the sales of new energy vehicles were robust against the seasonal low impact. With the opening of the traditional seasonal high in September and October, the production has resumed and chip supply improved. It is expected that sales in September will continue to increase rapidly.