BYD's NEV Dominance
STATE OF CHINA'S AUTO INDUSTRY
New Energy Vehicles remain as the only product category with
sustained growth in the China auto market
('000 units)
1,000
YoY Change
Monthly Sales
219.1%
China NEV Monthly Sales
(Oct. 2021 Mar. 2023)
(%)
250
814
200
786
750
140.8%
593
708
714
666
150
139.4%
105.8%
125.0% 531
114.7% 596 118.8%
132.8%
653
525
100
114.1%
107.5%
500
450
465
466
98.3%
431
46.6%
86.4%
74.7%
408
383
50
351
53.3%
49.6%
299
40.4%
0
250
-5.3%
-50
0
-100
Oct Nov Dec Jan
Feb Mar Apr May Jun
Jul Aug Sep Oct Nov Dec Jan Feb Mar
Comments
NEV sales have stepped down from late 2022, but remain above 25% of the market
ā
BYD remains the 800 pound gorilla and has extended its lead in 2023
ā
Overcapacity is a huge problem, and we can expect cut-throat pricing and added pressure to expand sales in
overseas markets
Source: CAAM, CPCA, Automobility analysis
Automobility Ltd
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