1.15 Million Units of NEVs are Sold in the World in November 2022, up 12.8% MoM

SHANGHAI, Dec 28 (SMM) - In November 2022, a total of 1.15 million units of new energy vehicles (NEVs) were sold globally, up 12.8% month-on-month (MoM) and 57% year-on-year (YoY). From January to November 2022, sales of NEVs totalled 9.18 million units, up 68% YoY. Among them, 854,000 units of pure electric vehicles were sold, up 15.5% month-on-month, accounting for 74% of the total market, while 293,000 units of plug-in hybrid vehicles were sold, up 5.6% month-on-month, accounting for 26%. The sales growth in the European market was the highest in November. A total of 274,000 units of NEVs were sold in Europe in the month, up 31% MoM. In the US, although the sales volume increased, the growth rate slowed down greatly. In November, a total of 88,300 units of NEVs were sold, a month-on-month increase of 3%, accounting for 8% of the global market share. Sales in China rose steadily. 744,000 units of NEVs were sold in November, still ranking first in the world, with a month-on-month increase of 9%.

BYD once again topped the list with sales of 227,000 units in November. The sales volume added 5% month-on-month and 152% year-on-year. The company announced the sales data of its models in November 2022. According to data, BYD sold a total of 230,427 units of NEVs in November, a year-on-year increase of 134.3%. Among them, 12,318 units were for exports, up 136.5% YoY. The sales volume of DM models was 116,027 units, and that of EV models was 113,915 units. In detail, the sales of the Ocean series in November were 226,491 units, and the volume totalled over 1.6 million units from January to November. The sales of BYD Dolphin were 26,063 units. The monthly sales exceeded 20,000 units for five consecutive months, and the cumulative sales stood at more than 200,000 units. In terms of the Dynasty series, sales of BYD Han were 31,786 units in November, including 13,383 units of the Han EV series and 18,403 units of the Han DM series. As of December 28, the sales volume of the BYD Han family has exceeded 30,000 units for three consecutive months, and the cumulative sales have successfully reached 400,000 units. The sales volume of Tengza in November was 3,451 units, an increase of 886% month-on-month. 12,318 units were exported in November, of which 2,333 were shipped to Israel. A total of 44,596 units were exported from January to November, a month-on-month increase of 29.3%.

Tesla sold 184,000 units of NEVs in November globally, up 46% month-on-month and 55% year-on-year. The sales rose sharply from the previous month, ranking second. However, Tesla’s Shanghai factory has been shut down since December 2022, and the prices of main materials for NEVs have shown a downward trend in December, suggesting poor domestic demand. It is expected that from December 2022 to the first quarter of 2023, Tesla's production and sales may fall short of expectations.

Driven by the high oil prices in the world, the stable and mushrooming domestic demand for NEVs and the strong growth of NEV output of the leading car companies, the growth of NEV sales in November was strong. In addition, the consumption promotion policies for NEVs in various regions also boost sales.

Sales of Tesla Model Y ranked first, with global sales of 112,000 units in November, a month-on-month increase of 92% and a year-on-year increase of 66%; sales of Tesla Model 3 followed closely, with global sales of 64,000 units, up 20% month-on-month and 26% year-on-year. High cost efficiency has become an important reference for consumers this year, thus the sales of Wuling Hongguang rose to third. In November, its global sales were 72,700 units, a month-on-month increase of 49% and a year-on-year increase of 60%. A total of six BYD models are on the list, among which the sales of Song DM are the highest. In November, the global sales volume was 57,000 units, a month-on-month increase of 13% and a year-on-year increase of 278%.

In November, the sales of NEVs rose, especially in China and European countries. Sales volume in Europe bounced back with the improvement of market sentiment. In China, auto makers generally hold a wait-and-see attitude towards the market trend with the about-to-be-due NEV subsidy and strictly control their production scheduling. Recently, the growth of demand has slowed down compared with the previous month, but the sales of NEVs in the country still rise steadily. In the US, the NEV sales were lower than expected, which increased only by 3% MoM. It is expected that the sales in the Chinese market will still be stable in December.