Key Allies China analysis on NEV market in February 2023

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


NEV (New Energy Vehicle) sales volumes

 This report is based on the “New Energy Vehicle (NEV) 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 January 2023(February 2023)
Key Allies China analysis on NEV market in December 2022(January 2023)
Key Allies China analysis on NEV market in November 2022(December 2022)


Table 1) EV, PHV, and FCV sales volume (units) Table 2) Sales shares of EVs, PHVs, and FCVs

(China registrations)

  In the January-February period of 2023, among the sales of New Energy Vehicles, sales of EVs (electric vehicles) reached 484,000 units, up 8.4% year-over-year (y/y); 226,000 units of PHVs (plug-in hybrid electric vehicles) were sold, reflecting an increase of 72.6% y/y; and 287 units of fuel cell vehicles (FCVs) were sold in the period, reflecting a 12.5% y/y increase. EVs and PHVs accounted for 68.2% and 31.8% of total NEV sales volumes, respectively.

  By province, sales from January through February 2023 were 94,000 units in Guangdong, up 17.9% y/y. 86,000 units were sold in the same period in Zhejiang, up 33.2% y/y, and 72,000 units were sold in Jiangsu, reflecting an increase of 33.6% y/y. By city, sales in Shanghai were 30,000 units, falling 11.1% y/y; in Shenzhen, sales were 28,000 units, up 11.1% y/y; and in Hangzhou, sales were up 14.6% to 24,000 units.

Table 3) Top 10 provinces and cities by NEV sales (thousand units)
Table 4) NEV sales volume of the top 10 OEMs in Guangdong, Zhejiang and Jiangsu Provinces (units)

(China registrations)