Key Allies China analysis on NEV market in October 2021

NEV (New Energy Vehicles) monthly sales data and market analysis

2021/11/25

NEV (New Energy Vehicle) Industry Analysis

 This report is based on the “New Energy Vehicle (NEV) (electric vehicles [EVs], plug-in hybrid vehicles [PHVs], and fuel cell vehicles [FCVs]) Industry Research Report” prepared by the Chinese consulting firm Key Allies; the report was edited and translated by MarkLines.

Related reports:

Key Allies China analysis on NEV market in September 2021(October 2021)
Key Allies China analysis on NEV market in August 2021(September 2021)
Key Allies China analysis on NEV market in July 2021(August 2021)

 

Table 1) NEV sales volume (thousand units) Table 2) NEV sales share by vehicle type
Table 3) NEV monthly sales volume (thousand units)

Source: China Association of Automobile Manufacturers (CAAM)

 

  According to statistics of the China Association of Automobile Manufacturers (CAAM), sales of New Energy Vehicles in October 2021, increased 139.3% over the same period last year and 6.9% over the previous month to 381,000 units. Both year-over-year (y/y) and month to month (m/m) sales continued to increase this month, but the increase was not as large as in September. Sales of New Energy Vehicles have maintained increases since April, and this month's sales reached a record high. A significant gap has emerged between the momentum of New Energy Vehicles and traditionally fueled vehicles, and this alternative trend is gradually becoming more prominent.

  Sales in the January-October period totaled 2,527,000 units. This is an increase of 177.3% over the same period last year.

  By vehicle type, New Energy Passenger Cars accounted for 95.5% of the total. At the same time as the overall market is expanding, the share of passenger cars is also continuing to grow.