China sold 431k NEV in January, down 18.6 % MoM after subsidy cut

The China Association of Automobile Manufacturers (CAAM) announced today that Automotive sales in China rose 0.9% in January from a year earlier, representing their first motnhly increase after eight consecutive months of declines. New Energy Vehicles sales reached 431,000 units in January, a 135% increase YoY but a decrease of 18.6% MoM. Chinese manufacturers such as BYD, Xpeng and Nio sold a total of 121,000 electric vehicles in January, representing a 170% increase YoY.

Despite the year-on-year growth, sales of NEVs, which include battery-powered electric vehicles, plug-in petrol-electric hybrids and hydrogen fuel-cell vehicles, fell 18.6%month-on-month after China cut subsidies for NEVs by 30% since January — Reuters said.

Beijing, China

December sales surged as buyers rushed in ahead of a subsidy cut that took place in January, Cui Dongshu, Secretary-General of another industry body China Passenger Car Association (CPCA) said. In December 518,000 NEVs were sold in China, increasing 159.5% year on year.

BYD sold 95,180 passenger vehicles in January 2022, up 126.1% year on year (YoY), with NEV sales up 367.6% to 92,926 units. The automaker sold 46,386 pure electric vehicles in January, up 220.7%. DM models sold 46,540 units, up 760.6%, thanks, BYD said, “to its advanced DM-i super hybrid technology”.


Nio delivered 9,652 vehicles in January 2022, representing an increase of 33.6% year-over-year. The deliveries consisted of 1,531 ES8s, the Company’s six- or seven-seater flagship premium smart electric SUV, 5,247 ES6s, the Company’s five-seater high-performance premium smart electric SUV, and 2,874 EC6s, the Company’s five-seater premium smart electric coupe SUV.

XPeng delivered 12,922 Smart EVs in January 2022, representing a 115% increase year-over-year, exceeding the monthly delivery benchmark of 10,000 units for the fifth consecutive month. Deliveries in January 2022 consisted of 6,707 P7 smart sports sedans, representing an 81% increase year-over-year. 4,029 P5 smart family sedans were delivered in January, bringing total deliveries to over 11,000 since its launch in September 2021. 2,186 G3 and G3i smart compact SUVs were delivered in January.