CPCA Chief: China’s Global Share of New Energy Passenger Cars Rose to 67.8% in July

Cui Dongshu, Secretary General of the China Passenger Car Association, posted to his public WeChat account on August 29, saying that the global trend of new energy passenger cars will remain strong in 2022. From January to July, the global passenger new energy vehicle sales volume reached 5 million units, up 70% year-on-year, of which China accounted for 60.6%.

In July, the world sold 830,000 new energy passenger cars, up 73% year-on-year. Among them, China’s market share rose to 67.8%.

Cui also analyzed the overall new energy vehicle market. In 2021, the sales volume of new energy vehicles in the world was 6.18 million units, a year-on-year increase of 122%. In 2022, the growth rate started super-strong, and maintained a multiplier of high growth in January and February, while the growth rate from March to May lowered, and it was gradually improved in June and July. In 2022, pure electric vehicles will continue to show a strong trend, plug-in hybrids’ performance will gradually weaken, and ordinary hybrids will be relatively stable, he said.

As for the market trend of new energy vehicles around the world, Cui said that China sold 3.31 million vehicles in 2021, surpassing 2.18 million in Europe and 700,000 in North America. From January to July 2022, China sold 3.03 million units, greatly surpassing the sales of 1.24 million in Europe and 590,000 in North America.

The penetration rate of new energy vehicles in the world has shown a rapid upward trend, reaching 10% in 2022, among which China has reached 22% – the same as Germany. Norway has reached 71%, the US only 7%, and Japan only 2%. Therefore, the imbalance of new energy development in the world is extremely obvious.

Finally, Cui analyzed the new energy vehicle share trend of various manufacturers. In terms of sales share over the years, Tesla keeps the first place in the world and continues to strengthen. China’s BYD and SAIC have performed well in new energy, while SAIC Passenger Car and SAIC Wuling, two independent car companies under the group, are performing well. The performance of China’s new EV makers is generally strong, especially Leapmotor and NETA.

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From the perspective of pure electric share of car companies, Tesla’s share of pure electric vehicles is relatively stable, and has been above 20% since 2020. SAIC’s share was 14.5% in 2021 and 10.6% from January to July 2022. BYD‘s share remains relatively stable on the whole, maintaining an overall level of over 7% from 2017 to 2021, rising to 11% in 2022.