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Summary
- Plugin vehicles are rapidly gaining popularity in the Chinese auto market, with sales increasing by 33% year-over-year.
- BEVs and PHEVs are both seeing growth, with PHEVs experiencing a faster increase in sales.
- BYD is dominating the market, with multiple models in the top 10 and strong sales across different segments.
- The Chinese market is on track to be fully electrified by 2035, with BEVs and PHEVs becoming increasingly popular.
Plugin vehicles are all the rage in the Chinese auto market, with plugins scoring 816,000 sales (in a 1.7-million-unit overall market). That’s up 33% year over year (YoY).
Looking deeper at the numbers, BEVs were up 22% while PHEVs did even better, jumping 55% in May. Breaking down plugin sales by powertrain, BEVs had 63% of sales, below this year’s average of 64%, proving the rising popularity of plugin hybrids in this market.
The year-to-date (YTD) tally is around 3.3 million units, a significant rise over the 2.5 million units in the same period of 2023.
Share-wise, May saw plugin vehicles hit a record 47% market share! Full electrics (BEVs) alone accounted for 29% of the country’s auto sales.
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Read the full post at CleanTechnica.
