By Greg Gao

(JW Insights) Sep 7-- China’s estimated total sales of new energy vehicles (NEVs) reached 800,000 units in August, said the China Passenger Car Association (CPCA) on September 5.

In August, EV maker BYD, Tesla China, and GAC Aion ranked in the top three with sale numbers of 274,086, 84,159, and 52,057 units respectively. They are followed by Geely Auto, Changan Auto, SAIC-GM Wuling.

The rising EV startups Li Auto, NIO, and XPeng also achieved impressive delivery results of 34,914, 19,329, and 13,690 respectively, according to CPCA’s statistics.

CPCA stated that due to the high delivery number last August, the market growth rate in August this year has slowed down. In the first half of 2023, the new energy vehicle market grew month-on-month. Since July, the passenger car market has entered the off-season. With the introduction of many competitive new products and increasing price discounts, the NEV sales number continued to rise in August.

In July 2023, 15 auto manufacturers with new energy vehicle sales of over 10,000 units in the national passenger car market accounted for 88.1% of the monthly NEV sales. The estimated sales volume of these companies in August is 700,000 units.

According to the usual proportion, CPCA predicted that the total national sales of NEVs in August was 800,000 units, an increase of 27% year-on-year and 9% month-on-month. Since the beginning of this year, cumulative wholesale sales of NEV have reached 5.08 million units, a year-on-year increase of 39%.

CPCA expects that in 2023, China’s NEV sales will reach 8.5 million units, with passenger car sales reaching 23.5 million units. The annual penetration rate of NEVs is expected to reach 36%.