Home Tech Q1 NEV sales up 80% y-o-y

Q1 NEV sales up 80% y-o-y

Q1 NEV sales up 80% y-o-y

Battery electric vehicles (BEV) had the strongest growth with sales reaching 1.508 million.

Plug-in hybrid electric vehicles (PHEVs) sold 493,000

For all auto sales in Q1 there was a fall of 7% y-o-y  because of the war, chip shortages and China lock-downs.

Tesla led in BEVs with sales of  310,000 units and  a market share of 20.5%.

Chinese automaker BYD ranked second with 143,000 units and a market share of 9.5%.

BYD’s  BEV sales rose 271% in 1Q22 y-o-y.

Wuling, a subsidiary of SAIC-GM, has been ranked second since the launch of the Wuling Hongguang MINI in 2020 but dropped to third place in 1Q22.

The main contributor to this was the multitude of models positioned as miniature and low-priced launched in the past year such as the Chery Ant and Changan Benben. As similar products arrived on the market, sales competition hindered growth.

BYD once again broke its quarterly PHEV sales record in Q1, shipping 142,000 units to take a market share of 28.8%.



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