China is at the forefront of countries trying to promote electric mobility in the long run. The country’s electric car market is on the rise, hitting an unprecedented high in June. A whopping 713,932 new passenger plug-in electric vehicles (EVs) were registered, marking a 28% year-over-year growth. Astonishingly, this pushed the market share of EVs to 38% of all new car sales, dwarfing Europe‘s 25% and the US’s 7%.
The sales of Plug-in Hybrid cars saw a rise as well, indicating a customer segment still unsure of EVs
In the global arena, China is an indisputable leader, housing almost 57% of the worldwide plug-in car share. Notably, the majority of these plug-ins are not only sold but also manufactured in China, indicating the nation’s pivotal role in the global electric revolution. Of these, all-electric models constituted 25% of China’s car sales in June, with plug-in hybrids capturing 13%.
This monumental growth isn’t just a monthly phenomenon. Throughout 2023, China has registered over 3.2 million new plug-in EVs, an increase of about 38% year-over-year. This makes up 35% of the total new cars this year, a leap from 2022’s 30%.
In the EV leaderboard, Tesla’s Model Y dominated June, becoming China’s top-selling rechargeable car. However, BYD, a homegrown brand, maintained its reign with four cars in the top five. BYD’s Song and Qin variants were the most sought after in the year’s first half,with Tesla’s Model Y trailing in third. Yet, the Model Y clinched the title of the most popular all-electric model.
Brands-wise, BYD emerges as China’s favorite, commanding a significant 35.3% share in the plug-in segment from January to June. Tesla, with a 9.1% share, stands second, followed by GAC Aion and SAIC-GM-Wuling. With such remarkable progress, China continues to flaunt its status as the global epicenter of electric vehicles.