China wholesales September 2023: Record market, BYD at all-time high again, places 3 models in Top 4

BYD reaches an all-time high volume in September. 

According to data by the China Association of Automobile Manufacturers (CAAM), the Chinese wholesales market is up by another 9.5% year-on-year in September, reaching a new record for the month at 2,858,000 units. Production is up 6.6% to 2,850,000. The national government’s policies to boost consumer spending as well as local governments’ car purchase subsidies have helped keep the market strong in a wobbly economic context. In the detail, Passenger Car wholesales are up 6.6% to 2,487,000 and Commercial Vehicles gain a sturdy 33.2% to 371,000. Year-to-date, the wholesales market is up 8.2% to 2,069,000 including 18,130,000 Passenger Vehicles (+6.7%) and 2,939,000 Commercial Vehicles (+18.3%). The strength of the Commercial Vehicle market is partly explained by the recovery of the logistics industry.

The New Energy Vehicle segment continues to go from strength to strength with wholesales up 22.7% year-on-year to 904,000. This means NEVs account for a whopping 36.3% of the Passenger Vehicle market this month. Year-to-date NEV sales are up 37.5% to 6,278,000, accounting for 34.6% of the market. 444,000 vehicles were exported from China in September, a 47.7% year-on-year surge and a 8.8% gain on last month’s previous all time record of 408,000. 96,000 of these are NEVs (+92.8%). Year-to-date exports are up 60% to 3,388,000 including 825,000 NEVs.

BYD continues on its euphoric run and tightens its grip on the brands ranking. With a 27.9% year-on-year growth, it reaches a new all-time record monthly volume for the third time in the past four months, lifting it to just under 245,000 units. The Yuan Plus (+72%), Qin Plus (+17.5%) and e2 (+2293.2%) help the brand grow but it’s mainly its new launches, the Corvette 07, Seagull and Song Pro, that drive BYD’s gains. Up until a year ago still dominant in the market, Volkswagen (-5.8%) can only show yet another disappointing result this month, in line with the -7.3% it posts year-to-date. VW falls despite strong scores by the ID.3 (+887.7%) finally living up to its expectations, the ID.4 X (+39.9%) doing the same, the Magotan (+17.7%), Polo (+61.1%), Sagitar (+25.3%), T-Cross (+170.5%), Tayron (+105.5%) and Tiguan L (+25.7%). 

Toyota (+3.3%) and Honda (+9.3%) hold well in third and fourth place respectively while Geely (+53.8%) surges ahead at #5 thanks to the Boyue (+903.5%), new Galaxy L7 (over 10,000 sales), Haoyue (+41.8%) and Xingyue L (+53.6%). Changan (+2.1%) stays at #6 ahead of a very solid Audi (+22.1%). BMW (-1.8%) and Mercedes (+8.3%) follow while Wuling (-8.6%) loses ground year-on-year but returns to the Top 10. Nissan (-21.4%) is in freefall as it is also year-to-date (-29.5%). Chery (+5.1%) climbs three spots on August to #12 above Haval (+24.3%) and Aion (+70.1%) both in excellent shape. Buick (-17.7%), in difficulty, rounds out the Top 15 while Tesla (-43.9%) sinks due to cratering wholesales of the Model 3 (-93.3%). Below, LI Auto (36,060), Leapmotor (15,800) and Denza (13,156) break their volume record.

Looking at the models ranking in isolation, the Tesla Model Y (-11.3%) still manages a pole position despite falling year-on-year. It distances three BYDs: the Qin Plus (+17.5%), Song Plus (-19.9%) and the new Seagull breaking its volume record at over 35,000 units. The VW Lavida (-8.3%) closes the Top 5 above the Nissan Sylphy (-13.1%). Excellent score by the BYD Yuan Plus (+72%) advancing to #7 while the Aion Y (+101.1%) breaks its volume record just under 27,000 units. The Toyota Front Lander (+113.3%) scores a second consecutive volume best at 21,500, the brand’s 2nd best-seller for the month below the Camry. The Wuling Bingo leaps up 11 spots on last month and smashes its volume record at 19,600. The Honda Civic (+118.4%), Audi A6L (+76.2%) and Aion S (+59.3%) also impress.

Previous month: China wholesales August 2023: Market up 8.4% to new record, Seagull (#3) lifts BYD to new heights

One year ago: China wholesales September 2022: Market up 25.7%, BYD (+142%) hits another record volume, Tesla Model Y #1

Full September 2023 Top 89 All brands and Top 523 All models below.