After the December sales peak, a covid surge, the end of EV subsidies on January 1st, and the Lunar New Year celebrations (this time happening in January), one would expect a sales hangover in January,
and this time … it did happen. The market dropped by 8% YoY, to some 343,000 passenger new energy vehicle registrations.
Illustrating the current trends of the Chinese EV market, in last month’s top 5, we have 3 BYDs, the small 4-seat Wuling Mini EV, and then the Tesla Model Y.The rise and rise of BYD’s bread and butter model has finally stopped, with the midsizer already regularly touching the ceiling in the past few months. This day was bound to happen….
NIO is back in the table, thanks to the production ramp-up of the ET5 sedan. The midsizer provided critical volume to a brand in real need of scaling up its operations. Outside the top 20, a mention goes out to the 3,170 Smart#1 registered in January. We can also celebrate the good results coming from the BMW stable, with the iX3 SUV getting 2,263 registrations and the i3 scoring 3,624 registrations, allowing the sedan to beat the VW ID.4 and become theLooking at the manufacturer ranking, things started this year how they ended the previous, with BYD hovering above everyone else with an amazing 40.2% share. It was followed by a distant Tesla, in 2nd with 7.
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