Yuan EV
reaches 10,000 units in BYD fest
Traditionally, January, along with February, are the
two slowest months in the Chinese plugin market, but tradition is not what it
used to be, and with disruption hitting the Chinese automotive market (the
mainstream market was down 18% last month), PEV sales were up an amazing 175%(!)
YoY, to some 96,000 units, pulling the PEV market share to 4.8%, already above
the 2018 result (4.2%), and all of the sudden, my previous forecast for the
final 2019 share (8%) seems conservative. Will we see it go North of 10% by the
end of December?
With all this continued growth, we should see sales double
this year, surpassing the 2 million mark, making some 60% of all global PEV sales
in 2019.
This ranking
still has some numbers missing, namely imports, but considering we have already
over 90% of this month sales tracked, and the exciting results that have been
made, we decided to publish right now what we have and update the final numbers
later.
With symbolic export numbers, the domestic market is
more than enough to absorb the current Chinese production, and most foreign
OEMs only now are starting to tackle the current seismic changes, dragged into
electrification by the new PEV quotas, resulting in the foreign brands total share
still being stuck at 5% (imports are
still missing, so this number should grow a little, to some 8%).
Of this (small) cake, 2% belong to Volkswagen, by far the
Best-Selling foreign brand, with the remaining manufacturers sharing the remaining
3% (Tesla should have some 2%, once the
final numbers are in).
In January, the headlining news were the BYD Dynamic Duo (Yuan and Tang) continued Rise and Rise, with the first surpassing
for the first time the 10,000 units in one month.
Here’s January
Top 5 Best Selling models individual performance:
#1 – BYD Yuan EV: We all knew that BYD’s new Baby Crossover was destined for success,
and with yet another record of 10,093
deliveries in January, the first time a BYD hits five digits in one month, the
brand Star Player is living up to
expectations, eating everybody’s
lunch, on the way. With a 40,000-long waiting list, demand is no problem,
depending more on BYD’s ability/willingness to make them in large volumes (The
Tang is more profitable…), than anything else. With unrivalled specs (42 kWh
battery, 305 kms/190 mi NEDC range, 174 hp motor), and price (25,000 USD), success
is guaranteed, but for some reason BYD still thinks it’s not good enough, so
they are going to upgrade the battery to some 58kWh this year…If they have a
long waiting list now, imagine then!
#2 – SAIC Baojun
E100: Shanghai
Auto and General Motors had high hopes for their tiny two-seater, and despite
an irregular career, the tiny two-seater is finally making an impact on the
Chinese plug-in market, having registered a record 8,312 units last month. With an updated range in 2018 (250 kms
NEDC), thanks to a new 24 kWh battery, its price (CNY 93,900 / USD 14,700)
before subsidies, is quite alluring, especially considering its modern design
and features. Maybe GM should consider exporting it? I mean, it’s not like they
have a strong EV lineup…
#3 – BYD Tang PHEV: After 9 months on the market, the
second-generation Tang continues to expand sales, registering a record 6,908 registrations. Sales should continue
strong for BYD’s successful flagship, and new record sales could still be
achieved in the future, although the upcoming (and much anticipated) Tang BEV
could steal sales from it. As for the current Tang PHEV specs, BYD’s Midsize SUV saw the battery grow to 24
kWh, originating an increased 100 kms range / 62 mi NEDC (around 70 kms / 44 mi
real world), while on the power department, things have stayed the same, but with
500 hp and 0-100 kms/h in less than 5 secs, one can’t really say it was
underpowered.... All for CNY 279,800 / $40,816.
#4 – BYD e5: BYD’s bread and butter electric sedan, a favorite among
taxi-drivers, registered 3,968 units
in January, and yet, this performance was overshadowed by their team stars Tang
and Yuan. This Andre Iguodala (Who?)
of the BYD lineup, has great specs (61 kWh, 405 kms / 253 mi range NEDC, 218
hp), considering the price (CNY 220,650 / USD 34,600). With a new, attractive
design (finally!), the nameplate is set to continue its brilliant work as the
lesser known team member of an All-Stars-rich Shenzhen Warriors Team...
#5 – BAIC EU-Series: After the record 12,561 units
of December, allowing it to be that month Best Seller, BAIC’s electric sedan returned
to more normal performances, with 3,895 units being delivered last month,
narrowly losing out to its BYD e5 nemesis.
The revised design and improved specs (215 hp, 416 kms / 260 mi NEDC, $32,500)
allows it to remain a popular choice and resist the BYD Blitzkrieg (the EC-Series can’t say the same…), so it seems the
sedan is going to be Beijing Auto’s main bet for 2019.
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| NIO ES8 |
2019 ranking
In such an
amazing month, there were plenty of models shining, besides the aforementioned
records mentioned in the Top 5 Sellers, there were fresh faces scoring record
results, like the #9 Geely Emgrand GSE EV compact SUV registering a record 2,808
units, the singular #14 Great Wall
Ora iQ5 EV crossover scoring 2,036 units, a new personal best for the Great
Wall nameplate, and finally the #18 Lifan 820 EV midsize sedan delivering a
record 1,682 units.
Another
interesting feature in the big reshuffle of the January ranking, is that in the
middle of the large number of new faces on the Top 20, we have a couple of export-minded
models that are finally surfacing in the Top 20, like the full-size SUV Nio ES8,
in #16, with 1,803 deliveries, being January’s Best Selling Luxury model, while
the #17 GAC Trumpchi GE3 compact crossover registered 1,683 units.
Looking at
the manufacturers ranking, BYD (22%) is a comfortable leader, thanks to the
success of the Yuan and Tang (and the #4 e5, and the #7 Qin, and the #15 Song…it’s
a true BYD fest), while below it, there are significant shifts, with SAIC (14%)
in the 2nd Spot, ahead of Geely (7%), while BAIC (5%) had a terrible
entry in 2019, dropping to 4th, tied with Chery.
A special
word for BYD’s never ending expansion plans, besides the current lineup, that
can already be considered quite complete, with a subcompact crossover, compact
sedans and SUVs, and a flagship midsize SUV, not forgetting the complete range
of commercial vehicles, the brand will join new segments this year, with the e1
trying to get a piece of the large City EV
market, while the Song MAX, both in PHEV and BEV formats, will join the
7-seater MPV/Minivan category, with even more models coming in 2020, including
a mysterious Han sports car, said to have Tesla-like acceleration specs and
over 700 kms range…
One wonders
where they will get enough batteries for all that, but then again, they are
their own supplier, so just like Tesla, BYD is not dependent from third party
supply issues and contracts, which really separates both EV makers from the
rest of the competition into a league of their own, allowing them also to
upgrade their batteries more frequently, thus winning a critical advantage over
their competitors.
