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China – 2nd Quarter and YTD 2015

Good news for China NEV sales again: The sales of plug-in vehicles (we are tracking passenger cars, EV and PHEV) increased by 145 % compared to Q2 of last year. A combined volume of 35 500 was delivered during the quarter. NEV share in total passenger cars reached a new peak of 0,9 % in June and so did volumes with 13 700 units delivered. With the current pace, sales are trending towards at least 150 000 EV+PHEV for the year.
first China – 2nd Quarter and YTD 2015 image

Plug-in hybrids gain share

Since the BYD Qin PHEV took over as the best selling plug-in car, it has boosted the overall share of PHEV in total NEV sales. The Qin is incredible value and typically stands for around 30% of all NEV deliveries in China. PHEVs receive lower subsidies than pure EVs, but they are less depending on the rudimentary charging infrastructure and typically sell at lower list-prices before subsidies. We expect more PHEVs from BYD and other Chinese OEM to meet the increasing interest in these variants.
second China – 2nd Quarter and YTD 2015 image
third China – 2nd Quarter and YTD 2015 image

Not much segment match

The segment structure of NEV sales differs a lot from the passenger car market in general. Minis and D-Segment sedans are grossly over-represented among NEVs; the total market typically consists of less than 5 % minis (A-Segment) and ca 10 % D-Segment sedans. The huge C-Segment in China (40 %) is only 7 % in the NEV sector and the fast growing SUV category (30 %) got the first NEV entry as late as last month, the BYD Tang. The overweight on minis and mid-size sedans is partly related to the needs and preferences of important initial NEV target groups (city commuting, public sector & taxi), but also reveals the shortage of attractive alternatives in other segments. Either way, it shows the development potential for the still young and emerging NEV sector.

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