Author: Egg Yolk

The sales data of the automotive industry in October is undoubtedly the most eye-catching. The sales performance after the “Golden September and Silver October” season is highly concerned by most car consumers. On November 9th, the China Passenger Car Association announced the sales ranking of new energy vehicles in October. In the context of the global chip shortage, what changes will there be in the new energy market?

The sales data reflects the obvious characteristics of the situation in October. Wuling Hongguang MINIEV leads the way with soaring sales, BYD has once again set a new sales record, while Tesla no longer has the “absolute dominance” in the domestic market.

Retail Sales Data of New Energy Vehicles in October:

• The retail sales volume of new energy passenger cars in October reached 321,000, an increase of 141.1% year-on-year and a decrease of 3.9% month-on-month.

• From January to October, the retail sales of new energy vehicles reached 2.139 million units, an increase of 191.9% year-on-year.

• Among them, the retail sales volume of pure electric models was 259,000, an increase of 135.9% year-on-year and a decrease of 6.6% month-on-month, accounting for 80.7%. The sales volume of plug-in hybrid models was 62,000, an increase of 165% year-on-year and an increase of 9.6% month-on-month, accounting for 19.3%.

In October, the new energy passenger car market diversified its efforts, and SAIC and GAC performed relatively well, with outstanding highlights for traditional automakers. Both BYD’s pure electric and plug-in hybrid models performed relatively strongly.

Hongguang MINIEV Goes Even Higher

We seem to be accustomed to Hongguang MINIEV’s sales of over 30,000 units per month, but this month, Hongguang MINIEV unexpectedly exploded, directly pulling the monthly sales volume to 47,834 units, an increase of 142.6% year-on-year and an increase of 36% month-on-month. It is 12,665 units more than last month, and it can be said to be proud on the list, after all, the other models on the list are not even half of Hongguang MINIEV.

On November 3, SAIC-GM-Wuling announced that the sales of the models under its micro pure electric platform GESV reached 51,081 units in October. The models that contributed to this sales achievement are Hongguang MINI EV, Wuling NANO EV, and Baojun KiWi EV. Hongguang MINIEV occupies 93.6% of the total sales volume, once again refreshing the sales myth of pure electric micro-cars.

It’s worth mentioning that according to data provided by the China Association of Automobile Manufacturers, in the overall car sales rankings (including gasoline vehicles) for October, Hongguang MINIEV took the top spot, surpassing the long-standing first place holder Nissan Sylphy (with sales of 41,896 in October) by a margin of 5,938.

Looking back, Hongguang MINIEV sold a total of 304,495 units in the first 10 months of this year, while Tesla Model 3, which ranks second, sold only 112,173 units, a difference of more than 190,000 units. Without a doubt, Hongguang MINIEV had a “crushing victory” in 2021, which has attracted many competitors. Next year may be a “micro-car sales crown” competition, and whether these “newcomers” can touch Hongguang MINIEV’s cake remains to be seen.

BYD’s 6 cars on the list with overwhelming strength

BYD has dominated a third of the sales of new energy vehicles for quite some time, and in October, it had 6 models on the list, accounting for 40% of the list. According to official information, BYD’s total sales of new energy vehicles in October were 80,003, of which pure electric vehicle sales reached 41,232, accounting for 51.5% of the total.

It’s worth noting that this month’s models from BYD on the list have all shown different degrees of growth compared to the previous month. BYD’s two hybrid models are still popular and continue to perform well, perhaps due to addressing range anxiety and greater fuel efficiency.

Since it was launched earlier this year, the Qin PLUS DM-i has been skyrocketing in terms of sales. The model broke the 10,000 unit threshold for the first time in August, and this month it has risen to 17,393 units with a MoM growth rate of 14.7%, ranking second on the list. It is not an exaggeration to say that the Qin PLUS DM-i may well remain in the top three of new energy vehicle sales for a long time, considering the current situation of new energy vehicle sales.

## Another BYD hit – the sales growth of Song DM series increased by 1831.1% YoY

Thanks to the booming new energy market in 2021, the sales growth of the Song DM series, another hit model with sales exceeding ten thousand, has been even more furious than last year, soaring by 1831.1% YoY in October, adding a touch of glamor to BYD’s new energy history.

In addition, BYD’s pure electric vehicle models are equally impressive. Qin PLUS EV, Han EV, and Yuan EV are all in a growing trend, among which Han EV’s sales growth rate is even more significant. Qin PLUS EV also maintains a stable performance, together with the DM-i models, they strategically occupy the new energy A-class car market.

There is no doubt that the “more vehicles have more power” BYD has already shaken the world in the new energy market.

Tesla’s Model 3 disappeared again, is Tesla still competitive?

Just like in August, Tesla’s Model 3 disappeared again, leaving only Model Y on the list. In October, the sales of Model Y in China was 13,303 units, which was nearly 20,000 units less than the 33,033 units of the previous month, with a huge gap.

Is Tesla still competitive?

In fact, according to the data released by the China Passenger Car Association, Tesla’s wholesale sales in October reached as high as 54,391 units, a YoY growth of 245%, which also means that Tesla has stabilized at the level of selling 50,000 cars per month. Moreover, Tesla’s export volume reached 40,666 units in October, a new record, so only 25.2% or 13,725 units were sold domestically.

Judging from the sales of Model Y, it can be inferred that there were only about 400 Model 3 units sold, but this does not mean that Tesla’s sales are poor. Most of them are for export. Tesla’s wholesale sales are much higher than SAIC-GM-Wuling. How could it be not competitive? Take Wuling for example, their cars sell well.

# Euler cat on the list

As a fan of roller coasters, the Euler family, similarly, occasionally features Euler black cat on the list, but this month it is replaced by Euler good cat. In October, the sales volume of Euler good cat reached 7443 units, which for this model is also a small sales outbreak in a month.

There are not many A0-level (small cars) in the sales list. For the new energy market, except for micro-cars, the best-selling models are still the A-level or above models mainly designed for household use. Small cars are tepid, neither too small nor too large, and are in a relatively awkward position. However, consumers who are willing to choose small cars must have some reason to drive them to make the purchase.

With its compact body, cute appearance, and delicate interior, it is hard not to like it. Those who choose this car may have some small attachments to appearance and taste.

Recently, Euler Motors officially announced that the Euler Flash Cat will add a new color “smoke purple crystal” and will be officially unveiled at the 2021 Guangzhou Auto Show. According to previous reports, the Euler Flash Cat will start pre-sale this year and officially enter production in the second quarter of 2022.

Tesla Cancels the “0 Down Payment” Policy

Tesla announced on November 4th that it had cancelled the “0 Down Payment” financial policy, which had been launched only three days ago. The reason for the cancellation is simple: the surge in orders has led to an increase in delivery times. Soon after, Tesla China’s official website displayed that the estimated delivery time for the Model Y Standard Range has been adjusted from the original 6-10 weeks to 10-14 weeks.

Conclusion

In summary, looking at the sales rankings in October, BYD became the biggest winner. Of course, this is also inseparable from BYD’s wholehearted investment in the new energy market. In the sales of BYD’s entire lineup in October, new energy vehicles accounted for about 90% of the total sales. With a complete and rich product line, BYD has become a leader in the automotive market.

The Wuling Hongguang MINIEV has been the top seller for over a year, seemingly feeling invincible in its loneliness, it broke through itself this month, setting a new record of sales performance, surpassing the number one Xuan Yi in the entire sedan market, which is very surprising.

In this year’s automobile market, the momentum of new energy is getting stronger and stronger, and the penetration speed of the overall market is getting faster and faster. In a short time, the entire automobile battlefield will be dominated by 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.