Analysis of May's Passenger Car and New Energy Vehicle Market in US

TapTechNews May 22nd news, TapTechNews learned from the Passenger Car Market Information Joint Conference (PCA) that from May 1 to 19, the retail sales of passenger cars in the market were 900,000 units, a 5% decrease compared to the same period last year and a 19% increase compared to the previous month. The cumulative retail sales so far this year were 7,267,000 units, a 6% increase; from May 1 to 19, the wholesale of national passenger car manufacturers was 845,000 units, a 3% increase compared to the same period last year and a 3% increase compared to the previous month. The cumulative wholesale so far this year was 8,395,000 units, a 10% increase.

From May 1 to 19, the retail sales of new energy vehicles in the market were 412,000 units, a 26% increase compared to the same period last year and a 10% increase compared to the previous month. The cumulative retail sales so far this year were 2,863,000 units, a 32% increase; from May 1 to 19, the new energy wholesale of national passenger car manufacturers was 430,000 units, a 37% increase compared to the same period last year and a 6% increase compared to the previous month. The cumulative wholesale so far this year was 3,170,000 units, a 31% increase.

The data shows that at the end of April 2024, the national passenger car inventory was 3.38 million units, of which the manufacturer inventory was 0.69 million units and the channel inventory was 2.69 million units, and the manufacturer inventory accounted for 20.4%.

In April 2024, the domestic installed capacity of lithium batteries was 35 GWh, a 41% increase compared to the same period last year. The installed capacity of ternary batteries was 10 GWh, accounting for 28%, which was lower than the same period; while the installed capacity of lithium iron phosphate batteries was 26 GWh, accounting for 66%, and the growth of ternary batteries slowed down somewhat. From January to April, the installed capacity of lithium batteries was 121 GWh, a 33% increase.

At present, the proportion of the production of power batteries that are installed in vehicles is continuously decreasing. In 2020, the production battery installed rate of power batteries reached 76%, in 2021 it was 70%, in 2022 it was 54%, in 2023 it was 50%, and in 2024 from January to April it dropped to 46%.