The forecast for the wholesale sales volume of Chinese electric passenger car manufacturers, which increased by 35% year-on-year in May, has been released!
AshleyJun 06, 2024, 10:55 AM
Recently, the China Passenger Car Association (CPCA) made a forecast on the wholesale sales volume of new energy passenger car manufacturers in May 2024. Comprehensive estimated wholesale sales of 910,000 units, an increase of 35% year-on-year, and an increase of 16% sequentially. And estimated data shows that the top five auto companies in terms of wholesale sales volume are BYD, Tesla China, Geely, CHANGAN, GAC-AION.
CPCA stated that the market advantage of leading electric vehicle companies has continued to expand recently, and market differentiation has intensified. According to preliminary data, the sales volume of manufacturers with a wholesale sales volume of more than 10,000 new energy sources in China's passenger car market in April 2024 accounted for 86.6% of the total monthly sales volume of electrified passenger vehicles in April. The estimated sales volume of these companies in May is 790,000 units. According to the forecast of last month's structural share, the sales volume of electrified passenger cars in China in May is about 910,000 units.
According to CPCA's analysis, China's national economy operated smoothly in May. Although it was affected by factors such as holiday shifts and a high base in the same period of the previous year, with the implementation of China's "old-for-new" policy and the introduction and follow-up of corresponding policy measures in various places, the market's consumer enthusiasm was stimulated as the price war of new products in the car market cooled down temporarily. Hence, China's electrified passenger car market entered a relatively good development stage in May.
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