Key Allies China analysis on NEV market in December 2021

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

2022/01/26

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 November 2021(December 2021)
Key Allies China analysis on NEV market in October 2021(November 2021)
Key Allies China analysis on NEV market in September 2021(October 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 December, 2021, increased 113.6% year-over-year (y/y) and 18.1% compared to the previous month to 529,000 units, continuing the y/y and month by month growth trends, with sales reaching a record high.

  Cumulative sales of New Energy Vehicles in 2021 reached 3,502,000 units, up 157.8% y/y. New Energy Vehicles have become the biggest focus of the auto market this year, and despite the downward pressure on the overall market, New Energy Vehicles have maintained a significant increase. This is evidence that the market has shifted from being policy-driven to demand-driven.

  By vehicle type, the New Energy Passenger Car market maintained growth in 2021, with cumulative sales accounting for 95.2% of all New Energy Vehicles. The proportion of New Energy Trucks and New Energy Buses is almost the same.