Electric vehicles (EVs) are on the rise throughout the world, and doubly so in what is the world’s biggest vehicle market.
In China, October EV sales were up 120% year-over-year (YoY), making up 82% of all plugin vehicle sales, according to EV Sales Blogspot. While battery electric vehicles were up a total of 128% year-over-year (YoY), plugin hybrid electric vehicles (PHEVs) were up just 93%, suggesting a potential shift towards BEVs even from PHEVs.
All in all, plugin vehicles (BEV and PHEV) made up a total of 7% of the market share, pulling the year’s total up to 5.4% electric.
The top two selling EV models in China were, perhaps as expected, the Wuling HongGuang Mini EV and the Tesla Model 3, having sold 20,631 units and 12,143 units, respectively. The Wuling Mini EV, at only $4,300 (USD), has beaten out the Tesla Model 3 by a longshot, though it’s worth noting that you could buy eight of them for less than the price of a Model 3.
In 2019, EVs accounted for 61% of China’s two-wheeler sales and 59% of bus sales, and the government plans that by 2025 one in five cars sold will be an EV. https://t.co/GEpM1moRMN
— Serge Kamuhinda (@kamuhinda) November 24, 2020
Behind the top two models were the Great Wall ORA Black Cat, the SAIC Baojun E-series, and the BYD Han EV, having sold 6,269 units, 5,949 units, and 5,055 units, respectively. These three are newcomers to the top five, and we can expect to start seeing these names a lot more.
With 94,492 total sales on the year, Tesla doesn’t have to worry about its Model 3 underperforming in China, though the Wuling, having only launched in July, has sold 52,672 this year already. The next few years will be telling as far as the Chinese EV market goes, and will help determine the future of the EV market for the entire world.
