China Held 57% Share of Global New Energy Car Market in First Four Months of 2022
Cui Dongshu, Secretary General of the China Passenger Car Association, issued a post on Saturday claiming that in 2022, the country’s new energy passenger cars accounted for 57% of the global market, due mainly to strong domestic demand.
Cui pointed out that from January to April 2022, the sales volume of new energy vehicles was 3.75 million units, including 1.17 million units of hybrid powertrain models and 2.56 million units of pure electric models.
China’s share of the global pure electric vehicle market is significant. Its share declined slightly to 48% in 2020, compared with 60% in 2018. In 2021, it rose back to 60%, and from January to April 2022, it even reached 62%.
In terms of new energy vehicle makers, SAIC Motor’s market share increased from 4.8% in 2018 to 10.4% in 2020, then to 14.4% in 2021. The number declined to 10.2% from January to April 2022.
BYD’s market share has remained relatively stable, rising to 10.6% in the first months this year from 7% in the past four years.
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According to data from the China Automobile Association, from January to April, the production and sales of new energy vehicles were 1.605 million units and 1.556 million units respectively, both increasing by 1.1 times year-on-year. Specifically, the production and sales of pure electric vehicles were 1.278 million units and 1.239 million units respectively, both of which doubled year-on-year.