China surpasses 1 million electric vehicle sales in August 2024, establishing a fresh sales record

In a historic month for China's automotive industry, electric vehicles (EVs) continued to dominate the market, with August 2024 seeing a significant increase in sales compared to the previous year and month.

According to recent data, China was the leading market for both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) in August, with BYD taking the top spot in both segments. The Chinese automaker sold over 1,000,000 NEVs in 2024 and is expected to maintain its lead in the latter half of the year.

The Wuling Hongguang MINIEV, an affordable, compact electric car designed for urban living, sold 26,461 units in August, making it a popular choice among consumers. The BYD Seagull was the top-selling BEV in the month with 46,830 units sold, while the BYD Qin L DM was the top-selling PHEV with 35,957 units sold.

The sales of BEVs reached 582,813 units in August, marking a 20.8% increase from the previous month and a 18.8% increase from the same period last year. PHEV sales hit a record high of 444,270 units, with a 12.2% month-to-month increase and a 96.9% year-over-year increase.

The growth in the EV market is reflected in the overall sales figures, with more than half of all vehicle sales in China being NEVs in August, accounting for 53.8% of total passenger vehicle sales. This is a significant decrease from the 62.7% share of internal combustion engine (ICE) vehicles in August 2023, highlighting the shift towards electric mobility.

The expansion of the PHEV market in China has been particularly noteworthy, with a 74% year-to-date increase. The top three companies with the best-selling plug-in hybrid vehicles in 2024 are BYD, Geely, and Volkswagen; BYD leads with models like the Song and Qin Plus, Geely follows with the Xingyuan model, and Volkswagen ranks third.

China's NEV exports also saw a 23.7% year-over-year increase in August, with 99,000 passenger NEVs being exported. BEVs accounted for 80.8% of total NEV exports from China in August.

The August 2024 sales figures mark a critical achievement, as the 1,000,000 monthly sales mark had never before been crossed. The figures represent a 43.4% year-over-year increase from the previous year and a 16.9% month-to-month increase, underscoring the continued growth of China's EV market.

Tesla's Model Y was the second best-selling BEV in August 2024, with 45,330 units sold, although the sales of the best-selling BEV in August were not specified in the provided data.

This record-breaking month for China's EV market is a testament to the country's commitment to reducing carbon emissions and promoting sustainable transportation. With the continued growth and innovation in the EV sector, it is expected that China will continue to lead the way in the global transition to electric mobility.

China surpasses 1 million electric vehicle sales in August 2024, establishing a fresh sales record