China Oct. new energy PV sales reach new high with YoY surge of 84.8%

Shanghai (Gasgoo)- China saw its wholesale volume of new energy passenger vehicles (PV) reached a new high of 119,793 units in October, soaring 84.8% year on year (YoY), according to the data released by the China Passenger Car Association (CPCA). The Jan-Oct new energy PV sales zoomed up 93% from a year ago to 725,816 units.

Last month, the battery electric vehicle (BEV) sales were 94,052 units, shooting up 80% over a year ago. By the end of October, a total of 529,928 BEVs has been sold this year, a significant YoY jump of 76%. 

As for specific BEV segments in October, the A00-class’ sales evidently grew 37% from the previous year to 51,274 units, accounting for 55% of the total BEV PV sales which was 16 percentage lower than that of a year ago. The A-class’ Oct. sales skyrocketed 169% YoY to 26,712 units, while declined 12% compared with the September. Meanwhile, the sales of A0-class all-electric PVs amounted to 13,848 units with a remarkable YoY surge of 218% and a stable MoM growth of 17%. The C-class BEV sales edged down 1% over a month ago to 2,060 units.

BAIC BJEV took the sales championship with its NEV wholesale volume in October amounting to 27,814 units, driven by the sales boom of its EC Series. BYD dropped to the runner-up place with 26,069 NEVs sold last month, basically the same as the previous month. SAIC Motor PV saw its NEV sales fall 12% MoM, ranking third on the list.

The top 3 BEV models by Oct. sales were the BAIC EC Series, the BYD Yuan EV and the Chery eQ. The Oct. sales of the BAIC EC Series skyrocketed 424% from the previous month to 20,648 units, tremendously more than that of the runner-up—the BYD Yuan EV. The BAIC EU Series boasted the biggest YoY growth up to 889%, ranking 7^th among the top 10 BEV models. Besides, the Oct. sales of the NIO ES8 reached 2,060 units, a bit less than that of a month earlier.

The sales of plug-in hybrid electric vehicles (PHEV) in China soared 105% from the year-ago period to 25,741 units in October and totaled 195,888 units for the first ten months with an impressive YoY increase of 157%.

The BYD Tang was crowned champion by Oct. sales among PHEV models. The BYD Qin was the runner-up despite a YoY sales drop of 5%. In addition, the Roewe eRX5, ranking 8^th, had a sales volume of 1,196 units with an obvious YoY decline of 25%.