CINNO Research: In the first quarter of 2022, the wholesale sales volume of passenger cars in the Chinese market reached 5.44 million units, an increase of 8.6% year-on-year

Recently, data released by "CINNO Research" showed that the wholesale sales of passenger cars in the Chinese market in Q1 increased by 8.6% year-on-year to 5.44 million units. Among them, the wholesale sales of new energy passenger cars were 1.19 million units, an increase of 155% year-on-year, and the market share increased to 21.9%, an increase of about 13 percentage points year-on-year and 2 percentage points month-on-month respectively, setting new highs and showing an unprecedented rapid growth trend.

In the first quarter of 2022, pure electric new energy passenger vehicles in the Chinese market continued to grow, accounting for more than 80% of the market share. From the top 10 brand rankings:

Due to the diversified development of domestic new energy passenger vehicles, domestic brands occupied 7 seats. BYD, which offers both pure electric and hybrid vehicles, consolidated its position as the champion of domestic new energy brands. Tesla and Wuling Motors ranked second and third respectively. New car-making forces Xiaopeng, Ora and Ideal all made the list.

With the increase in production capacity, BYD's new energy sales have been rising month by month. By the end of the first quarter, BYD has seized the title of Wuling Automobile's new energy sales champion, with sales of 285,000 vehicles, a significant year-on-year increase of 430% and a month-on-month increase of 8%.

Among high-end new energy brands, Tesla is still the undisputed king, with new energy sales reaching 182,000 units in the first quarter. Its Tesla Model Y continued to sit on the throne of new energy SUV with sales of 105,000 units. In the sedan category, Tesla Model 3 followed closely behind Model Y with a gap of 29,000 units.

Relying on the hot sales of Wuling Hongguang MINI EV, Wuling Motors ranked third among new energy brands with sales of 107,000 vehicles, a year-on-year increase of 10% and a month-on-month decrease of 24%; however, in terms of sales volume and unit price of Hongguang MINI EV, there is still a big gap between it and BYD.

The automakers ranked fourth to tenth are Chery, GAC, Volkswagen, Xpeng, Ora, Ideal, Toyota and other brands; overall, in the domestic new energy vehicle market, domestic independent brands occupy a significant market share, and the gap with joint venture brands has widened.

Zikuai Technology