TrendForce released a report today that the global sales of new energy vehicles (NEVs, including pure electric vehicles, plug-in hybrid electric vehicles, and hydrogen fuel cell vehicles) in 2022 will be about 10.65 million, an increase of 63.6% year-on-year.
The report pointed out that 7.89 million pure electric vehicles (BEV) were used, a year-on-year increase of 68.7%; plug-in hybrid electric vehicles (PHEV) were 2.74 million, a year-on-year increase of 50.8%. China and Western Europe are still the two major markets, but the difference in market share has widened further, with China accounting for 63% of the market and Western Europe at 29%.
▲ Source: TrendForce Consulting
In terms of BEVs, in 2022, Tesla will still lead the pure electric vehicle brand, but its market share will drop to 16.6%; BYD’s market share in pure electric vehicles will increase to 11.5%, and the main growth will come from BYD’s low-priced car model Dolphin contributed about 23% of sales, leaving only a 5 percentage point gap between the two.
In terms of PHEV, BYD continued to win the championship with 946,000 sales, with an annual growth rate of 247%, and its market share rapidly expanded to 34.5%. According to the report, although PHEV sales in China will double in 2022, the European region will show a decline. Therefore, brand strategies will be the key to determining PHEV sales in various regions this year.
In January this year, data from the China Association of Automobile Manufacturers show that in 2022, my country’s automobile production and sales will complete 27.021 million and 26.864 million vehicles, a year-on-year increase of 3.4% and 2.1% respectively. Among them, new energy vehicles continued to grow explosively, with production and sales of 7.058 million units and 6.887 million units respectively, a year-on-year increase of 96.9% and 93.4% respectively, and a market share of 25.6%.
In addition, TrendForce said that the current observation of the auto market is mixed, but new energy vehicles will continue to rise. It is estimated that the sales volume of this year will reach 14.51 million units, a year-on-year increase of 36.2%.
