In the new energy vehicle market in February, Tesla remains the winner.
Among the top three sales of pure electric models, Model 3 ranks second. Model Y also performed well, selling 4644 units in the second month of listing, taking third place. However, the Hongguang MINI EV still ranks first.
In addition, compared with traditional independent brands, new car companies such as NIO and XPeng have performed more outstandingly in the market in 2021. For instance, NIO has entered the top 5 of the car company list for two consecutive months.
In February, the Wuling Hongguang MINI EV won the monthly champion of pure electric passenger cars with sales of 18,100 units. The second-place Tesla Model 3 sold a total of 13,400 units.
However, the most noteworthy model in February was Tesla Model Y, which sold 4644 units in the second month after listing, an increase of nearly 1.4 times compared to the previous month.
BYD Han EV had a total of 4251 insurance claims that month, a decrease of 55% compared to the previous month, which may be related to the Spring Festival holiday.
In the plug-in hybrid field, the Ideal ONE won the monthly champion of insurance claims, and the second place was taken by the Roewe RX5, which was the BMW 5 Series last month.
Overall, in 2021, the market performance of new car companies is more outstanding than that of traditional independent brands.
For example, NIO had a total of 12,900 insurance claims in January and February 2021, ranking fifth on the new energy passenger car insurance list, better than its eighth place in 2020. In the first two months of this year, XPeng also ranked seventh on the list with 7911 units, compared to last year’s ranking of 16th.
NIO expects to exceed 20,000 units in Q1 2021, and it seems that this goal is not difficult to achieve.
In January and February of this year, XPeng surpassed the cumulative insurance claims of Ideal, once again becoming the runner-up of new car companies’ insurance claims, second only to NIO.
In contrast to the rise of new forces, mainstream new energy passenger car brands such as Changan, JAC, and BAIC continued to decline, especially JAC new energy, which fell from 29th in 2020 to 37th in January and February 2021.## Post-holiday Sales Fell, Generally Low for Enterprises
After the opening burst of January, the influence of the Spring Festival in February did not cause a further increase in the month-on-month sales of new energy passenger cars, but the trend remains unchanged with a year-on-year increase of more than 8 times.
In February 2021, a total of 94,400 new energy passenger cars in China were insured, an increase of more than 8 times from the same period last year, when the pandemic was at its most severe.
Among them, pure electric and plug-in hybrid passenger cars insured were 80,400 and 14,000 respectively, both showing significant growth from the same period last year.
Affected by fewer working days and the Spring Festival, the sales of new energy passenger cars for most car companies in February have declined. However, Tesla continues to perform strongly amongst the top companies, with sales increasing instead of decreasing in February, with a total of 18,000 vehicles insured. Tesla snatched the monthly runner-up from BYD, and the gap with the monthly champion Wuling has narrowed from 14,000 vehicles last month to 2,000 vehicles.
With the fierce attacks from new forces, if traditional companies cannot achieve anything in 2021, they may have to give up the market share accumulated during the initial stage of promoting new energy vehicles.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.