Passenger Association: 2.989 million new energy vehicles will be retailed in 2021

According to the data released by the China Automobile Association on January 11, the retail sales of new energy passenger vehicles in December 2021 reached 475,000 units, an increase of 128.8% year-on-year and 25.4% month-on-month. From January to December, the retail sales of new energy vehicles were 2.989 million units, an increase of 169.1% year-on-year.

Cars on display at the Changsha International Auto Show. Photo by Tang Xiaoqing

According to the analysis of the Association, the trend of new energy vehicles and traditional fuel vehicles forms a strong differentiation characteristic, realizing the partial substitution effect of new energy vehicles on the fuel vehicle market, proving the change in consumer demand through the user's market-oriented choice, and driving the car market to accelerate the pace of transformation to new energy.

In December, the new energy passenger car market diversified, and there were 14 companies with wholesale sales of manufacturers exceeding 10,000 vehicles, which increased significantly over the previous period, including: BYD 93,338 vehicles, Tesla China 70,847 vehicles, SAIC-GM-Wuling 60,372 vehicles, Great Wall Motors 20,926 vehicles, Chery Automobile 20,501 vehicles, Geely Automobile 16,831 vehicles, Xiaopeng Automobile 16,000 vehicles, SAIC passenger cars 14,868 vehicles, GAC Aegean 14,500 vehicles, Ideal Automobile 14,087 vehicles, FAW-Volkswagen has 11,213 vehicles, WEIlai Automobile 10,489 vehicles, Changan Automobile 10,404 vehicles, and United Automobile 10,127 vehicles.

According to the analysis of the Federation, according to the latest released policy, the current purchase subsidy technical indicator system framework and threshold requirements will remain unchanged in 2022, and the subsidy scale will not be locked from the original expected upper limit of 2 million subsidies, and the subsidy will be realized throughout 2022. With the doubling of the scale of the new energy industry chain and the improvement of cost reduction capabilities, it is expected that the increase in new energy vehicles at the end of 2022 will be very strong.

The Association expects that in 2022, the sales volume of new energy passenger vehicles will exceed 5.5 million, and the penetration rate of new energy passenger vehicles will reach about 25%. New energy vehicles are expected to exceed 6 million, with a penetration rate of about 22%. (End)