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BEIJING, June 1 (TiPost)— Recent data highlighted a major feature of the electric vehicle (EV) market in China: Polarization.
Source: Visual China
BYD Co., the largest EV manufacturer in China as well as the world by sales in 2022, said on Thursday that it sold 240,220 new energy vehicles (NEVs) in May, representing a 97.63% year-over-year (YoY) increase. Sales in the first five months of this year topped 1 million, nearly doubling a year earlier. With more than 200,000 units of sales for the third straight month, the EV giant shattered the monthly record it set last December, when it managed to refresh the record for ten months in a row. The sales growth showed a little bit slowdown compare with the previous two months. BYD sales in February and March surged 119.37% and 98.6% YoY. It has maintained triple-digit monthly growth in sales in the whole year of 2022, even it decided to cease the production of cars powered only by internal combustion engines in March, and from that month on, completely shifted to make NEVs, including the battery electric vehicle (BEV) and the plug-in hybrid electric vehicle (PHEV).
While BYD extended lead its lead in EV sales, Aion, a brand owned by the state-owned manufacturer Guangzhou Automobile Group Co., Ltd. (GAC), maintained leadership among emerging Chinese EV startups in May. Keeping the triple-digit growth, the brand smashed its record with sales of 45,003 vehicles, increasing 114% YoY. This is the third consecutive monthly record since Aion first sold more than 40,000 units in March. Its sales from January to May totaled 166,323 units, up 119% YoY.
Li Auto Inc posted delivery of 28,277 EVs, shattering record for the third straight month. The automaker delivered over 20,000 units for third consecutive month and over 10,000 Li L7s, the five-seat flagship family SUV launched in February, for second straight month. Li Auto’s monthly gross sales exceeded RMB10 billion for the first time in its history, laying a solid foundation to reach the sales target of RMB100 billion in 2023, the chairman and CEO Li Xiang noted.
Xpeng Inc delivered 7,506 Smart EVs in May, decreasing almost 26% YoY, though the volume grew 6% from the previous month. The company underscored P7i, a new sports sedan rolled out in March, as a key growth driver. Delivery of P7i has experienced a substantial increase compared to the previous month, and the company would further accelerate deliveries in June, according to a statement on Thursday. Xpeng also foresaw G6 to be one of the most bestselling models in China’s NEV SUV market segment with the RMB200,000 to RMB300,000 price range. It said presale for the G6 Ultra Smart Coupe SUV would begin on June 9, with display vehicles available at its stores.
Among Chinese EV companies that unveiled their data in May, NIO Inc is the only one that reported declines in delivery both YoY and month-over-month (MoM). It shipped 6,155 vehicles, falling 12.4% YoY and 7.5% MoM. Unlike Xpeng’s significant YoY slump of 64% for year to date, NIO’s delivery in the first five months of the year increased 15.8% YoY to 43,854 units. The auto firm suggests better prospect in the future months. It said the All-New ES6, a smart electric all-round SUV derived from NIO Technology 2.0 (NT2.0) with enhanced driving and riding experience, started delivery on May 25. It also plans to launch a new vehicle model based on NT2.0 platform, ET5 Touring, a mid-size smart electric tourer and start its delivery to users in June.
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