While in Europe the transformation of the private transport sector is proceeding at a fairly contained speed, with some countries bordering on ridicule, China has clearly seen that it is the future to reduce energy dependence, emissions, and launch a powerful automobile industry that creates Hundreds of thousands of new jobs. A bet that is paying off.
Last April, according to the Chinese government, they have registered in that market 500,000 pure electric cars and plug-in hybrids. A record figure that represents a growth of 23% compared to the same period last year, and which means that 34% of the cars sold in the world’s leading automobile market had a power outlet.
These figures bring the accumulated total in the first four months of the year to 1.3 million registered units. The same amount that the European Union achieved in 2022 in the entire year.
By technologies, the battery electric cars (BEV) accounted for 24% of car sales in the country, while plug-in hybrids have occupied 10% of sales.
According to the estimates, and taking into account the current growth, it is expected that in the next quarter the sales of the electric and plug-in models combined will reach a market share of more than 40%and at the end of the year exceed 50%.
The great beneficiaries of this turn of the Chinese towards the electric car are two proper names. Tesla and BYD.
Within the Top 10, we find eight electric or plug-in hybrid models, and only two gasoline, the Volkswagen Lavida and the Nissan Sylphy. Two proposals that recently were fighting for the top positions, and that are now fighting not to fall out of the top 10 positions.
Last April, the Tesla Model Y It has been the most popular model by far, managing to deliver a total of 54,937 units in the Chinese market. A milestone that once again allows the American SUV to become the best-selling car in China for the third time, driven by recent price reductions in its range.
In second position is the BYD Qin Plus. A proposal with a pure electric and plug-in hybrid version, which has surpassed its range brothers, achieving 40,215 registrations in March, with an electric variant registering 8,905 units. And it is that the plug-in hybrid version Recently renovated, it has become a success thanks to a price that starts at just 13,300 euros to change. 30% below the cost of a hybrid Toyota Corolla in the Chinese market.
Something similar happens to the third classified, the BYD Song. This has achieved 40,114 registrations in April, and of these 6,050 units correspond to the electric version, and the rest to the plug-in hybrid.
A Top 10 that looks like its own BYD takes four of the positions, with Tesla with two others. Something that leaves foreign brands out of the game with only Volkswagen and Nissan being the exception that proves the rule.
The conclusion is that China has taken the lead in adopting the electric car, and has done so hand in hand with its local brands that have been able to adapt more quickly to what the Asian giant’s customers are looking for.
An investment that is still in a growth phase with groups like NIO building up to three own factories simultaneously to serve the national market, but with facilities designed exclusively to meet external demand, such as Europe, where it will arrive with a new low-cost brand.
Production capacity and control of the value chain that It will allow them in a very short time to have an offer without competition. An aspect that will leave Western groups, focused on synthetic fuels, raising profit margins and pushing to delay emissions standards, the role they are beginning to play in China. An irrelevant role.
