China Electric Car Sales Up 188%, Still Dominated By BYD
China Electric Car Registrations (June YTD 2016)
The Chinese market had some 34,000 new EVs zooming the streets last month (June 2016), a 188% increase over the same month last year, in-line with the annual growth rate. EV market share surpassed the 1% barrier in July, reaching 1.1% of new car sales.
At this rhythm, the Chinese EV market is headed to reach some 400,000 sales and 1.5% market share by December 31st, which not only would beat North America (USA + Canada + Mexico) and Europe as the top-selling market, both in volume and market share, but would also make it the largest market fleet-wise, with nearly 700,000 units in the streets.
All the while, 96% of the market belongs to domestic brands. For the record, of the 4% left for foreign brands, 2% belongs to Tesla, 1% to Porsche, and a remaining 1% is for the remaining automakers….
Here are July’s top 5 best-selling models: