|BYD Tang: Getting easier on the eye every passing day…|
After two record-breaking months (September with 105k
and October, 120k), plugins in November just kept on pushing forward, by
registering over 140,000 units, up 59% YoY, with the previous record being
beaten by a significant margin (18%).
If we extrapolate December, sales could peak at some
155,000 units, with the 2018 sales surpassing the 1 million units mark. In one
year. And to think that 2017 was the first year that plugins reached 1 million
sales, GLOBALLY. Woah.
With all this continued growth, and the recent decline
of the mainstream market (-14% in November), the PEV share hit another all-time
best, ending the month with 6.3%, while the 2018 share rose to 3.8% share, a
new record and well above the 2.1% of 2017, with sales expected to continue
growing until December, the 2018 PEV share could end North of 4%, with the December
reaching surpassing 7%.
If this growth rate continues throughout 2019, in a
year from now we should be talking about shares above 10%, and that’s when things
start to get interesting…
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 upcoming PEV quotas, resulting in the foreign brands total
share still being stuck at 6%.
Of this (small) cake, 2% belong to BMW, the Best-Selling
foreign brand, and 2% to Tesla, with the remaining manufacturers sharing the
In November, the headlining news were the BYD Dynamic Duo (Tang and Yuan) continued Rise and Rise, with the first nameplate
joining the Top 10.
Top 5 Best Selling models individual performance:
#1 – BAIC EC-Series: After the record 20,648 units
of October, BAIC’s small EV returned to more
normal performances, with 14,205
units being delivered last month. With almost twice as much registrations as
the #2 BYD Qin in 2018, the EC-Series continues to disrupt the Chinese market, replicating
what the Tesla Model 3 is doing in the USA. The revised design and improved
specs (new 30 kWh battery) allowed the EC-Series to remain a popular choice in
the Chinese Mega-Cities, also helped by a competitive price ($25,000, before
#2 – BYD Tang PHEV: After seven months on the market,
the second-generation Tang continues to expand sales, registering a record 6,405 registrations. Sales should continue
strong for BYD’s successful flagship, and new record sales could still be
achieved in the future, although the upcoming BEV Tang could steal sales from
it. As for the current Tang PHEV specs, BYD’s Sports 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 stayed the same, with some 500 hp and 0-100 kms/h in
less than 5 secs. All for CNY 279,800 / $40,816.
#3 – BYD Yuan EV: We all knew that BYD’s new Baby Crossover was destined for success,
and with a record 6,188 deliveries
in November, BYD’s new baby is living
up to expectations. Will the Yuan be the fiercest competitor in 2019 to the
all-conquering BAIC EC-Series? With a 40,000 waiting list, demand is no
problem, I guess it will depend more on BYD’s ability/willingness to make them
in large volumes (The Tang is more profitable…), than actual demand, sitting on
a sparsely populated part of the market (small BEV crossovers), and with
unrivalled specs (42 kWh battery, 305 kms/190 mi NEDC range, 174 hp motor), and
price (25,000 USD), BYD might have found in this new model its star player,
crowning what it is already a strong lineup.
#4 – BYD e5: BYD’s bread and butter electric
sedan, a favorite among taxi-drivers, registered a record 5,573 units in November, and yet,
this performance was overshadowed by the stars Tang and Yuan. This Andre
of the BYD lineup, has some strong specs (61 kWh, 405 kms range NEDC, 218 hp),
for a competitive price (CNY 220,650 / USD 34,600). Unfortunately, the basic
design makes it a bit of an unsung hero in the BYD stable, next to the Tangs,
Qins, Songs and Yuans...
#5 – Baojun
Auto and General Motors had high hopes for their tiny two-seater, and despite
an irregular career, it is finally starting to make an impact on the Chinese
plug-in market, having registered 5,155 units last
month, a year best. 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.
|Junfeng Skio: Dongfeng's "EC-Series"|
In a record
month, there were plenty of models shining, besides the aforementioned records
mentioned in the Top 5 Sellers, the #19 Hawtai xEV compact SUV registered a
record 3,257 units, while the #20 Dongfeng Junfeng Skio, a new face in this Top
20, scored 4,142 units, not only a new record for Dongfeng’s subcompact car,
but also for any of the maker EV nameplates.
also some significant changes in the ranking, the Chery eQ climbed to #5, while
BYD’s star models, the Tang and Yuan, continue their never ending rise, with
the midsize SUV jumping three positions, to #8, signaling the Tang return to
the Top 10, while the subcompact electric crossover Yuan did even better,
shooting up four spots, to #11, while it prepares itself to join the Top 10 in
December, making 5(!) BYD’s in the Top 10...
impressive about BYD, unlike others, that are dependent from their star player
performance (see LeBron James at the Cavs),
BYD has a constellation in its lineup, replicating the success formula of the
Golden State Warriors in the EV universe. And with looong waiting lists, the
Yuan alone has 40,000 reservations, the 400,000 units target that the company
has for 2019 seems quite feasible.
Top 20, there’s much to talk about, the BMW 530e continues to amaze, having
scored yet another record performance, with 2,649 units, with the German sedan
being not only the bestselling plugin of its category, but also the best
performing foreign model, in #22.
November the BMW model had a tough race for the Best-Selling Foreign Model
title, as the Nissan Sylphy EV started to
fire on all cylinders charge
up at full speed, with 2,400 units being registered, so December should be an
entertaining race between both models, unless…
recently arrived Volkswagens steal the show.
The midsize VW
Passat PHEV sedan landed with a bang, scoring 1,513 units in its debut month,
the best arrival for a foreign nameplate ever, while the compact SUV Tiguan
PHEV also scored a not negligible 618 units, so November signaled Volkswagen’s real arrival to this market, and
considering the German brand is the most popular maker in the country, expect
it to be a major player soon.
Nio ES8 continues with its gradual ramp up (3,089 registrations last month), being
once again the Best-Selling Luxury SUV last month, allowing the new startup SUV
to remove the Tesla Model X from the yearly category leadership.
With the new
ES6 midsize SUV said to start deliveries by mid-2019, the Chinese startup is making
the best use of the short time it has to grow and win scale, before the Big Boys land with their dedicated BEVs.
the manufacturers ranking, BYD (20%) is a comfortable leader, thanks to the new
Tang and Yuan, while the runner-up BAIC (15%), is finally profiting from the
EC-Series sales infusion to retain share, and in Third Place, the Shanghai-based
Roewe (7%) had a horrible month, with only 6,700 deliveries, its worst result
since February, allowing Chery (6% share) to come closer, now with hopes to
reach the podium, which would be the first time that Chery would win a medal since