Shulou(Shulou.com)11/24 Report--

CTOnews.com, November 24, TrendForce Consulting released a report today that sales of new energy vehicles (including pure electric vehicles, plug-in hybrid electric vehicles, and hydrogen fuel cell vehicles) totaled 2.87 million in the third quarter of 2022, an increase of 70 percent over the same period last year.

Of this total, sales of pure electric vehicles (BEV) were 2.147 million, up 75 per cent from a year earlier, while sales of plug-in hybrid electric vehicles (PHEV) were 714000, up 57 per cent from a year earlier.

In terms of pure electric vehicles, Tesla in the first place sold 344000 vehicles, with a market share of 16%, but the sales volume was once again closer to that of BYD in second place. BYD sold 259000 pure electric vehicles in the third quarter, an increase of 182% over the same period last year. The difference in sales with Tesla has been less than 100000 for two consecutive quarters.

In addition, SAIC GM Wuling and Volkswagen ranked third and fourth respectively. It is worth mentioning that the fifth to tenth places are all dominated by Chinese brands, while Geometry Motor and MG (acquired by SAIC) are among the top 10 for the first time.

When it comes to plug-in hybrid electric vehicles, BYD ranks first with 279000 vehicles, with a market share of 39.1%. Even with increased sales, other brands still fail to exceed 10% of the market. At the same time, AITO, a Chinese brand with deep cooperation between Cyrus and Huawei, entered the top 10 for the first time and ranked fifth.

CTOnews.com learned that TrendForce Jibang Consulting said that the main momentum in the fourth quarter included the launch of new cars in the autumn and year-end promotions, and that the decline in sales in the third quarter was partly due to the waiting period for consumers due to new or modified car plans in the fourth quarter, which still had the opportunity to boost sales in the fourth quarter for the whole year. In addition, the wave of car purchases before the exit of China's new energy vehicle subsidies and the car purchase concessions offered by various car factories have kept the Chinese market hot.

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