BYD has higher NEV sales share than other Chinese OEMs

Beijing (Gasgoo)- BYD Company sold 32,800 new energy vehicles (NEVs) in May, accounting for 70.85% of its total monthly sales, well above than that of many Chinese automakers, including JAC Group, SAIC Motor, Chery Holding, Geely Auto and GAC Group.

Here, NEV includes battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV) and fuel cell electric vehicle (FCEV).

The Warren Buffett-backed company saw significant increase in its monthly NEV sales and one of the main drivers was its PHEVs, whose monthly sales exceeded 10,000 for the first time in May to 12,970 vehicles, a year-on-year surging of 458.33%. From January, 2020 to last month, its share of traditional internal-combustion vehicles saw a notable decrease due to the growth of NEV sales.

According to a plan which went viral on the internet but has not been confirmed by BYD, the company aims to sell 400,000 NEVs in 2021. By the end of May, it has sold 113,213 NEVs, just accomplishing 28.3% of its goal.

Apart from BYD, JAC Group, SAIC Motor and Chery Holding also achieved double digit result of their monthly NEV share. In May, JAC Group sold a total of 44,391 vehicles and one in five vehicles it sold is battery electric passenger vehicles. In the first five months of 2021, its BEV sales totaled 43,958 vehicles.

On May 16, the new-generation SUV model SOL E40X from JAC Group went on sale with prices starting from 130,000 yuan after subsidies. Equipped with the brand’s J-Pilot PLUS driving assistance system, the new model can offer over 20 driving assistance functions for different scenarios.

In terms of total NEV sales in May, SAIC Motor was the most popular automaker with NEV retail sales amounting to 52,000 vehicles. The year-on-year change of the segment was a jump of 364.9%. By models, the MINIEV from SAIC-GM-Wuling sold 30,000 vehicles while sales of the group’s Roewe, MG and R brand jumped 175.7% year on year to 11,000 vehicles.

Photo credit: SAIC Motor

Several days ago, the largest automaker in China launched its new vision and logo with an aim to become a user-centered high-tech company. The group said that it adopts the design philosophy of “blue planet, rising sun” for its all-new logo, indicating it hopes to bring more environment-friendly and intelligent technologies to the world.

Chery Holding sold 6,792 NEVs last month, accounting for 10.32% of its overall monthly sales. As of the end of May, NEV sales of the group increased by 270.6% from a year ago to 32,337 vehicles. Currently, it has seven models for sale.

NEV sales shares of GAC Group and Changan Auto are very close. GAC AION, the BEV arm of GAC Group, announced it delivered 10,395 new vehicles in May, representing a robust year-on-year leap of 154% and surpassed the milestone of 10,000 units for the first time.

Aion S; photo credit: GAC Aion

GAC AION owns four mass-produced models for sale, namely the AION S, the AION LX, the AION V, and the AION Y. The cumulative sales of the AION S reached 100,000 vehicles in early May, two years after the model hit the market in late April 2019.

Great Wall Motor sold 3,597 NEVs under ORA, an NEV brand in May, accounting for 4.13% of its monthly sales. From January to May, the group’s NEV sales amounted to 41,804 vehicles.

Data of the China Association of Automobile Manufacturers (CAAM) showed the whole country sold 217,000 NEVs in May, nearly 10.2% of the country’s monthly sales. The association also raised the annual NEV sales to 2 million units, about 7.4% of its sales forecast, namely 27 million units, for the whole year.

According to the new NEV development planning for 2021 to 2035 released last November, NEV sales should account for 20% of the overall new vehicle sales by 2025. But some experts and executives are much more upbeat about the outlook.

Ye Shengji, deputy secretary general of the CAAM, said in an industry conference that NEV sales may account for 30% of the total sales in 2025. And Wang Chuanfu, chairman and president of BYD Company predicted that Chinese auto brands have taken the lead over foreign brands in technologies, which will help NEV sales in the biggest auto market in the world gain a share of 70% among all new vehicles sold in 2030.

William Bin Li, founder, chairman and CEO of Chinese electric vehicle startup NIO, said at an industry conference that since the first-quarter sales of NEVs were over 460,000, it is not difficult for China to sell 2 million NEVs this year. The segment may accomplish the goal of 25% share ahead of schedule, and by 2030, intelligent NEVs may account for 90% of new vehicle sales, the executive added.