BEVs represent 24% of the Chinese market in 2023
- Sales of battery electric vehicles (BEV) continued to grow in China in 2023. From 5% of the Chinese market in 2020, they increased to 13% of the market in 2021, 21% in 2022 and 24% in 2023, which makes China the most electrified country in terms of new car sales. In Europe, the share of BEVs did not exceed 16% last year and in the United States, they barely reached 8%.
- It is interesting to note that a carmaker emerged exponentially during the rapid and significant development of BEV sales in China. This is BYD which has captured a quarter of the Chinese BEV market (1.55 million out of 6 million units), thanks to a range well suited to demand. With this completely exceptional rise in power, BYD is becoming the leading carmaker on the Chinese market ahead of the Volkswagen group and a formidable competitor for Tesla, due to a much wider range.
- Unlike the European market, sales of PHEV (plug-in hybrids) also continue to develop in China, representing 11% of the market in 2023 compared to 7% in 2022 and 3% in 2021. This sales increase is also mainly due to BYD which captured half of the Chinese PHEV market last year (i.e. 1.45 million out of 2.8 million units). Full hybrids remain stable at 3% of the Chinese market. These models are not appreciated by customers.