Recent figures from the China Passenger Car Association (CPCA) reveal BYD’s dominance in the Chinese PHEV market. According to the newly released data, BYD secured nine out of the top ten best-selling PHEV models last month.
This list showcases that the only non-BYD vehicle in the top ten PHEV sellers was the Chery Fulwin T9. The ranking is based on the wholesale sales of 944,000 new energy passenger vehicles in July, marking a 28% increase compared to the same period last year.
Chinese Automaker BYD, a Newcomer to Vietnam, Dominates PHEV Sales in its Home Market
The top three spots on the list are held by the BYD Song, BYD Qin L, and BYD Qin, followed by the BYD Destroyer 05, BYD Seal 6, BYD Han, BYD Tang, BYD Song L, Denza D9, and Chery Fulwin T9.
The CPCA data appears to differentiate between EREV and PHEV, so the figures solely represent PHEV sales. In July, 318,000 PHEVs were sold, accounting for 33.7% of the new energy vehicle market. This signifies a 73% surge compared to the previous year and is considered the primary driver of growth in the new energy vehicle market.
Interestingly, the top five vehicles in July were relatively affordable models, with a significant drop-off to the more expensive Han in sixth place. The most notable aspect of this data is that it represents wholesale rather than retail sales.
Manufacturers often push dealers to purchase inventory, which doesn’t necessarily equate to final sales figures. In 2023, there was a significant issue with dealers holding excessive inventory that didn’t align with actual consumer demand.
These data points highlight BYD’s stronghold in the Chinese market, but in Vietnam, the brand is relatively new, currently offering three main electric vehicle lines: Dolphin, Atto 3, and Seal.
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