China Academy of Information and Communications Technology: The penetration rate of my country’s new energy vehicle market reached 19.3% in the first quarter, and its leading role in the automotive industry is prominent

Source: CAICT

In the first quarter of 2022, the production and sales of new energy vehicles in my country reached 1.293 million and 1.257 million respectively, an increase of 1.4 times year-on-year, maintaining a good momentum of development in general, with a market penetration rate of 19.3%, showing a prominent leading role in the automotive industry. The recent large-scale epidemic in many places in China has caused some new energy vehicle factories to stop production, and the continued rise in raw material prices has led to an increase in vehicle prices. Both the supply and demand sides of the new energy vehicle market are facing greater pressure.

The first quarter generally maintained rapid development. In March, the production and sales of new energy vehicles in my country reached 465,000 and 484,000 respectively, hitting a new high this year, with a year-on-year increase of 1.1 times, and the growth rate dropped from the previous month. In the first quarter, the cumulative production and sales were 1.293 million and 1.257 million respectively, an increase of 1.4 times year-on-year. The scale of production and sales was much higher than the level in the same period in 2021, and continued to maintain rapid growth.

In the first quarter, the production and sales of pure electric vehicles exceeded one million units. In March, the production and sales of pure electric vehicles were 376,000 and 396,000 respectively, an increase of 1.1 times year-on-year, and the growth rate was lower than that in February. In the first quarter, the cumulative production and sales of pure electric vehicles reached 1.036 million and 1.007 million respectively, both of which exceeded 100, with an increase of 1.3 times year-on-year.

The production and sales of plug-in hybrid vehicles continued to boom. In March, the production and sales of plug-in hybrid vehicles were 89,000 and 88,000 respectively, an increase of 1.6 times and 1.4 times year-on-year, respectively, and the production and sales maintained a high level for five consecutive months. In the first quarter, the cumulative production and sales of plug-in hybrid vehicles were 256,000 and 249,000 respectively, an increase of 2.3 times and 2 times year-on-year respectively, and the market recognition continued to increase.

The market penetration rate continued to increase, and the leading role of the industry was further enhanced. In March, the monthly penetration rate of the new energy vehicle market reached 21.7%, an increase of 2.5 percentage points from the previous month and a record high. The penetration rate in the first quarter reached 19.3%, and the cumulative market penetration rate in the past year has steadily increased to 15.7%. Its leading role in the automotive industry as a whole continues to increase.

Exports fell significantly in March, and overseas markets fluctuated significantly. In March, my country exported 16,000 new energy vehicles, less than 1/3 of the previous month, with a year-on-year increase of 71.5%. The growth rate fell sharply from the previous month. The overseas market was affected by multiple unfavorable factors and fluctuated significantly. In the first quarter, the cumulative export of new energy vehicles was 121,000, a year-on-year increase of 2.9 times, and the overall performance was still outstanding. It should be noted that large-scale epidemics have occurred in many places in China since 2022. At present, some new energy vehicles and supporting factories in the supply chain have been shut down. The production resumption time is still uncertain. The price of superimposed power battery raw materials continues to rise, pushing up production costs. , Many car companies have made clear their price increase plans, and the supply and demand sides of the new energy vehicle market are facing greater pressure.

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