705,400 New Energy Passenger Vehicles with Insurance were Insured in December 2022

SHANGHAI, Jan 19 (SMM) - According to statistics, 705,400 units of new energy passenger vehicles were insured in December 2022, a sharp increase of 46% from 481,000 units in the same period last year, and 32% from November. The sales of new energy passenger vehicles with insurance were 5.22 units in 2022, a year-on-year increase of 80%. In terms of fuel types, 517,000 pure electric vehicles were insured, accounting for 73% of the total, an increase of 33% month-on-month, and up 30% year-on-year; while 188,000 plug-in hybrid vehicles were insured, accounting for 27%, a substantial increase of 124% year-on-year and a growth of 28% month-on-month. In January 2023, due to the expiry of some favourable policies and the approaching Chinese New Year, the terminal prices continued to decline, which stimulated the demand of consumers. But the overall growth rate is expected to be slower than the previous month.

In terms of performance of car companies, the top 15 NEV companies sold a combined 536,000 vehicles, up 25% month-on-month, and 53% year-on-year, and the market share of CR15 was 76%. BYD insured 216,000 units in December, up 23% month-on-month and 128% year-on-year. Tesla insured 41,000 unites in December in China, down 33% MoM and 41% YoY. Fengsheng Automotive insured 12,000 vehicles in December, a month-on-month increase of 382%, and a year-on-year increase of 1090%.

BYD insured 49,000 units of Song PLUS, up 41% month-on-month and 132% year-on-year. 29,000 units of Tesla Model Y were insured, down 44% month-on-month, and 14,000 units of Fengshen E70 were insured, a year-on-year increase of 88%.