*Author: Luwei
Introduction
The era of new energy vehicles has come…
According to the data disclosed by the European Automobile Manufacturers’ Association, in the first quarter of 2021, pure electric and plug-in hybrid vehicles accounted for about 15% of total passenger car sales in Europe, while in China, sales of electric vehicles accounted for only 8% of total automobile sales in the first quarter of 2021.
From the data point of view, the proportion of new energy vehicles in the European market far exceeds that in China. There seems to be a feeling that the development of the new energy industry in Europe is much better than that in China this year, but is this really the case?
In the first quarter of 2021, the sales of new energy models in Western Europe reached 447,000 vehicles, accounting for about 15% of total passenger car sales, an increase of about twice compared to the same period last year. Among them, the sales of pure electric vehicles were 199,000 vehicles, an increase of 56% year-on-year, and the sales of hybrid vehicles were 248,000 vehicles, an increase of 158% year-on-year. Hybrid cars have gradually surpassed pure electric vehicles in the market position.
According to data released by the China Association of Automobile Manufacturers, the production and sales of new energy vehicles in China showed fast growth in 2021. In the first quarter, the production and sales of new energy vehicles in our country were 533,000 and 515,000 vehicles respectively, an increase of 3.2 times and 2.8 times year-on-year. Among them, the production and sales of pure electric vehicles were 455,000 and 433,000 vehicles respectively, an increase of 3.6 times and 3.1 times year-on-year, and the production and sales of hybrid vehicles were 78,000 and 82,000 vehicles respectively, an increase of 1.8 times year-on-year.
In China, pure electric vehicles still occupy the main market position of new energy, while hybrid vehicles are also showing a trend of growth. Although the market share is far behind Europe, the actual sales data are very similar or even higher than Europe.
Previously, China’s new energy subsidy policy has been stimulating the market. New energy vehicles have not only attracted attention but also achieved good sales growth. Although the subsidy policy is still fluctuating, the sales of new energy models have not declined significantly. With the accumulation of reputation, they have gradually consolidated their market position.
Currently, Europe is still relying on generous subsidy policies to stimulate the market. The substantial increase in the proportion of the new energy market can be compared to the Chinese market a few years ago. When the subsidy policy fades away, whether new energy can stand firm and develop quickly in the European market is still to be developed.The Secretary-General of the National Passenger Vehicle Market Information Joint Conference, Cui Dongshu, once said: “We estimate that the wholesale volume of new energy passenger vehicles throughout 2021 will reach 1.97 million, a year-on-year increase of 68.4% compared to 2020.” As of now, the sales volume of new energy passenger vehicles in the first quarter has already achieved 1/4 of this prediction. If the market continues to perform well in the second half of the year, achieving this goal will be no problem, and there may even be an increase of more than 30%.
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.