China's New Energy Vehicle Market Outperforms Globally

TapTechNews on June 2nd. The secretary-general of the China Passenger Car Association, Cui Dongshu, said in a recent article that the growth rate of new energy passenger vehicles in China has been stronger than the world's average growth rate in the recent period. In 2023, China accounted for 64% of the world's share, and from January to April 2024, it continued to maintain a 64% share, among which the world share of Chinese new energy passenger vehicles in April reached 67%.

TapTechNews learned that in 2023, the share of Chinese pure electric vehicles reached 62% of the world's share, and from January to April 2024, the pure electric vehicle share reached 59% of the world's, showing a relatively stable performance. China has shown extremely strong performance in the world plug-in hybrid market. In 2023, China's world plug-in hybrid share rose to the level of 69%, and from January to April 2024, it reached an ultra-high level of 71%.

In general, in 2023, the world's auto sales were 89.01 million units, among which the sales of new energy vehicles were 14.29 million units. From January to April 2024, the world's auto sales reached 28.36 million units, and the sales of new energy vehicles reached 4.49 million units.

In April 2024, the world's new energy passenger vehicle sales were 1.19 million units, a year-on-year increase of 24%, and a month-on-month decrease of 10%. From January to April, the world's new energy passenger vehicles reached 4.36 million units, with a year-on-year increase of 22%.

For the performance of new energy markets in various regions from January to April this year:

The sales of new energy passenger vehicles in China were 2.74 million units, with a growth rate of 30%;

The sales of new energy passenger vehicles in Europe were 870,000 units, with a growth rate of 8%;

The sales of new energy passenger vehicles in North America were 480,000 units, with the same growth rate of 8%;

The sales of new energy passenger vehicles in other Asian regions were 160,000 units, with a growth rate of 14%;

The sales of new energy passenger vehicles in the southern hemisphere were 60,000 units, with a growth rate of 128%.

Reference