BYD Song is China’s Model Y
Some 44.700 new EV's started zooming the Chinese streets last month, the second best month ever, with the market growing at 37% regarding the same month last year and pulling the YTD count to over 227.000 units, up 40% YoY, while regarding overall stock, a milestone has been reached, with over one million plug-ins being registered in China, from 2009 until now, the first market to reach a seven-digit figure, representing 40% of all plug-car stock in the World (Around 2.6 millions).
As consequence of all this, the PEV market share grew once again, this time to 1.6%, beating last year record (1.45%), expect that as the year progresses and sales expand, the Chinese PEV market surpasses the 2% share by year end.
This is still a highly protected market, where 93% of sales belong to domestic brands. Of the 7% left for foreign brands, 4% belong to Tesla, 2% to BMW, and the remaining 1% divided by all other auto makers. Interestingly, the Buick Velite 5 (Thinly disguised Chinese Chevrolet Volt) was for the first time the best-selling foreign nameplate in China, with 382 units.
In July the much awaited BYD Song PHEV won its first best-selling award, with over 5.000 deliveries, beating both the Zhidou D2 EV and the BAIC EC-Series, while BYD itself has beaten for the second time in a row the Manufacturers all-time sales record, by registering 11.207 units, stepping up the pace and increasing the distance to the runner-up Beijing Auto.