From January to August 2022, China’s new energy vehicle production and sales reached 3.97 million units and 3.86 million units respectively, and the proportion of new energy vehicle production and sales to overall vehicle production and sales reached 23.4% and 22.9% respectively. 666,000 new energy vehicles were sold in August 2022, of which 522,000 pure electric vehicles were sold, up 92.9% year-on-year; plug-in hybrid vehicle sales 144,000 units, an increase of 160% year-on-year.
Analysis of market production and sales trends
In August 2022, by model class, the sales structure of the pure electric passenger car market was about 20.6%, 19.1%, and 26.4% for minivans, compacts, and SUVs; the top three model classes of plug-in hybrid sales were about 56.0%, 19.2%, and 13.4% for SUVs, compacts, and mid-size. By vehicle lineup, Model Y, Hongguang MINI EV, Song PLUS New Energy (DM-i), Qin PLUS (DM-i) and other models are leading in sales, with 62,000, 49,000, 36,000 and 24,000 units respectively, accounting for a combined market share of about 25.7%. By brand camp, among the new car-making forces, in August 2022, Nezha, Zero Run, Azera, Xiaopeng and Ideal, respectively, had 16,017, 12,525, 10,677, 9,578 and 4,571 units, each achieving year-on-year growth of 142.2%, 179.1%, 81.6%, 32.8% and -51.5%.
New energy industry boom index analysis
In August 2022, the consistent index of the new energy vehicle industry was 107.4 points, and the market development remained stable. According to the forecast of the prior index, the new energy vehicle market will still maintain growth in October-November 2022.
Under the huge pressure to keep supply, new energy vehicle enterprises should sort out the supply and demand of chips in key areas as soon as possible, create a localized information management system, build a risk evaluation system, establish an emergency reserve mechanism for chips and important raw materials, and improve the security of the chip supply chain. For dealers, they should reasonably control inventory levels and actively respond to the impact of repeated epidemics. The lagging index 2022 August continued to maintain at a relatively high boom, continuing to verify that the forecast of high heat in the early new energy vehicle market is in line with reality.