Wednesday, October 27, 2021

BYD with another record Month. Is Tesla struggling in China?

China just released its sales Numbers and we noticed one surprising difference between BYD and Tesla. While BYD sold the majority of its cars locally Tesla barely sold any Cars in the local Market during August.

China’s electric car manufacturers recorded rising sales figures for electric cars and plug-in hybrids in August 2021.

BYD surpassed the 60,000 new electric vehicle sales mark for the first time. Tesla sold 44,264 of its vehicles manufactured in Shanghai last month. Most of those sales were outside of China though and were not sold in the domestic Market.

According to the China Passenger Car Association (CPCA), the sales volume of locally manufactured NEVs in China climbed to 304,000 vehicles in August. This is a 23.7% increase from the previous month. Cumulative sales of China-made BEVs and PHEVs in the first eight months of 2021 now stand at 1.643 million vehicles, according to the association.

BYD sold 61,409 NEV units in August – specifically 60,508 passenger cars and 901 commercial vehicles. This represents an increase of 301 per cent year-on-year and around 21 per cent month-on-month. Within the NEV segment, sales of all-electric vehicles and plug-in hybrids increased by 222.73% and 555.63%, respectively, compared to the previous year. Part-time electric vehicles in particular have thus become more popular.

In terms of individual models, BYD’s flagship Han came in at 9,035 units sold last month, representing cumulative sales of over 110,000 units since its launch. BYD sold 13,043 units of the Qin PLUS DM-i, and the entire Qin family sold 22,348 new vehicles in August. Furthermore, 6,240, 17,691 and 4,782 Tang, Song and Yuan series vehicles were sold last month.

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According to the China Passenger Car Association, BYD sold most of its vehicles in China itself. Only 781 electric vehicles and plug-in hybrids were exported to foreign markets, it says. This detail is particularly interesting when we compare it to Tesla’s export rate.

According to CPCA figures, Tesla sold 44,264 BEV vehicles manufactured at its China plant in Shanghai in August. A third more than in the previous month. Tesla exported 31,379 of the cars (to Europe, among other locations), while domestic sales amounted to 12,885 vehicles. This is said to be 49.5 per cent higher than the previous month’s figure.

It’s not obvious yet if this is a demand problem for Tesla in China yet or if the company is concentrating on its export Market. Domestic Sales of only 12,885 Vehicles in the World’s biggest EV market seem a bit low.

Hi I'm Leanne. I'm a big fan of electric cars (drive a Model 3 myself) and support the movement to go electric! I hope you enjoy my Articles here on the website.
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