According to a report released by the China Passenger Car Association (CPCA) on October 10, preliminary statistics show that from September 1 to 30, the retail sales of passenger cars in China reached 1.908 million units, up 21% year-on-year. It is predicted that the wholesale sales of new energy vehicles in September will be about 664,000 units, up about 90% year-on-year.
The association believes that the car market retail growth in September demonstrates a better overall economic environment. September and October are the traditional peak season for consumption in China and local policies have been introduced in tandem with the peak season. Furthermore, the number of new products is much higher than the same period in the past two years. Vehicle demand for transportation and suburban leisure has increased significantly. With the high price of fuel, although the purchase cost of an electric vehicle is slightly higher, their lower overall cost has become the main driving force of stronger demand.
In terms of the new energy vehicle market, the association estimated that BYD’s wholesale sales in September exceeded 200,000 units, ranking first. Tesla China and SAIC-GM-Wuling’s estimated wholesale sales in September are 83,000 and 52,000 units respectively, ranking second and third.
The association also analyzed the export of Chinese vehicles. About 1.91 million Chinese vehicles were exported from January to August this year, up 44% year-on-year. The average export price of these automobiles was $12,900 in 2018 but have gradually increased to $16,400 in 2022 and $18,900 in August 2022. The main reason for the export growth is the strong demand of new energy vehicles in overseas markets.
According to the association, the recent performance of Chinese automakers in Australia, the UK, Mexico and other key markets is also outstanding. SAIC, Geely and BYD performed well in the Norwegian market, while several electric vehicle startups choose to explore the European market starting from Norway, which will ban the sale of fuel cars in 2025.
In May 2021, NIO entered the Norwegian market for the first time and in September 2021, the company opened its first store in Oslo, the country’s capital. In January 2022, a battery swapping station was officially put into operation in the country. In December 2020, the XPeng G3i was delivered to users in 28 cities and towns in Norway, which became a key milestone in the company’s expansion into the European market.