The Song Plus helps lift BYD to a new monthly volume record.
In November, new Covid lockdowns have put an end to a positive stretch for Chinese wholesales that has lasted since June. According to data by the China Association of Automobile Manufacturers (CAAM), the tally for the month stands at 2,328,000 units, down -7.9% year-on-year. This includes 2,075,000 passenger cars (-5.6%) and 253,000 commercial vehicles (-23.4%). Note over 40% of new car dealership had to close for some time during the month due to Covid lockdowns. The year-to-date volume is now up a shy 3.3% over the same period last year to 24,302,000 units, including 21,292,000 passenger cars (+11.5%) and 3,010,000 commercial vehicles, down a ghastly -32.1%. Production is also down this month at -7.9% to 2,386,000 units and up 6.1% YTD to 24,628,000 units.
New Energy Vehicles (NEVs) continue to power through at +72.3% year-on-year to 786,000 passenger cars or a record 33.8% of the market vs. 20.5% a year ago. This includes 615,000 BEVs, up 67.4%. Through November, NEV wholesales stand at a whopping 6,067,000 units, up 113.9% year-on-year and accounting for 28.5% of the PC market vs. 14.9% over the same period in 2021. In contrast, ICE wholesales sink -29.6% or almost 500,000 units to 1,147,000. Sales of Chinese-branded passenger cars gain 10.5% to 1,129,000 units and 54.4% share vs. 46.6% in November 2021 and 41.4% two years ago. Year-to-date, the volume is up 24.2% to 10,479,000 units and 49.2% share vs. 44.1% in 2021 ad 37.7% in 2020. Exports are also in outstanding shape, up 64.8% to 329,000 vehicles including 276,000 passenger cars (+62.2%) and 95,000 NEVs, up 70% year-on-year. Year-to-date, exports are up 55.3% to 2,785,000 units after doubling in 2021.
The BYD Dolphin breaks its volume record again in November…
Most brands face very serious losses this month, which is at odds with the measured year-on-year market drop. This could mean CAAM data has been inflated with exports to mask a very worrying result but the models data we have doesn’t include exports. BYD (+120.6%) brilliantly repeats at #1 and breaks its monthly volume record for an astounding 7th consecutive month, lifting it from 113,903 sales last May to 214,173 now. The Chinese brand places a record four models in the Top 6: the Song Plus (+153.8% to a record tally), the Han (+148.6%) also breaking its volume record, the Dolphin (+195.5%) doing the same and the Qin Plus (-9.4%). BYD also has six models in the Top 11, adding the Yuan Plus (#10) and Tang (#11). The Seal (#18) is up 31 spots on October and also reaches an all-time high monthly tally. This month, BYD has a stunning 56,000 sales advantage over Volkswagen (-26.4%) in a rut.
Indeed, five of the next 7 carmakers all report double-digit losses. Volkswagen is followed by Toyota (-23.4%) and Geely (-20.5%), with Honda (-52%) and Wuling (-467%) ranking below. Changan (+2.1%) manages to swim upstream at #5, while Tesla (+18.2%) rallies back up 17 spots on last month to #7 and BMW (+16.2%) returns to the Top 10 at #9. GAC (-0.3%) is stable at #10. The next positive brand is ranked #23 and it’s Neta (+50.5%) ahead of LI (+11.5%) signing a record month. COS (+1.8%) also advances as does NIO (+30.3%) reaching an all-time high volume at over 14,000 units. Zeekr (+447.3%) continues to gear up and breaks its volume record for the 5th time in a row to lift it to over 11,000 sales. Geometry (+95.9%), Leap Motor (+43%), Beijing (+14.1%) and TANK (+6.3%) also defy the negative context.
…as does the BYD Seal.
Looking at the models ranking in isolation, the BYD Song Plus clocks in almost 64,000 units in a single month. This is the largest monthly volume for any model in China since the VW Lavida hit 69,010 sales back in December 2019. As a result the Song Plus is now #2 year-to-date, overtaking the Wuling Hongguang Mini EV (-29.8%) down to #3 this month. The Tesla Model Y (+95.9%) also scores a new high at over 52,000 units and ranks 2nd. The rest of the Top 6 is monopolised by BYD models: the Han (+148.6%), Dolphin (+195.5%) and Qin Plus (-9.4%). Still #1 year-to-date but in danger of losing that spot for the Full Year if the current trend continues, the Nissan Sylphy (-51.2%) implodes to #7 with the VW Lavida (-53.7%) also crashing. Once a dominant force in the SUV charts and overall ranking, the Haval H6 (-35.8%) is down three spots on October to #9 and only owes its Top 10 finish to the arrival of a PHEV variant. The BYD Yuan Plus is up one rank on last month to #10, its first Top 10 finish and by far the most popular recent launch in the country. In this ranking, the BYD Seal follows at #18, ahead of the Changan Lumin (#33), Changan UNI-V (#38), Toyota Front Lander (#39 and a record volume) and the LI L9 (#54).
Full November 2022 Top 96 all brands and Top 514 all models below.