BEIJING: China’s new energy vehicle (NEV) sales surged in September, with brands including Li Auto and Zeekr seeing record highs, fuelling prospects about the sector’s robust growth for the last quarter of 2024.
Their wholesales figure was expected to grow 48% year-on-year (y-o-y) last month to hit 1.23 million units, said the China Passenger Car Association (CPCA) last Wednesday.
CPCA secretary-general Cui Dongshu said the robust demand for NEVs and their favourable trade-in policies across the country boosted the sector’s performance in September, which is also a peak month for vehicle sales in China, together with October.
BYD, China’s leading NEV producer, saw a substantial rise in sales thanks to popular models such as the Qin and Song L, sitting atop the list of popular car manufacturers in the country.
The Shenzhen-based carmaker delivered more than 417,600 units last month, soaring 45.6% y-o-y. Its focus on affordability and advanced technology has positioned it as a front-runner in the domestic and international markets.
A Sino Auto Insights analyst said BYD’s success in combining affordability with innovation is a key reason for its dominance.
“Their ability to produce at scale while maintaining high performance and competitive pricing is keeping them ahead of both domestic and international rivals,” he said.
While BYD continues to dominate the mainstream market, premium brands like Zeekr and Nio are making their presence felt in the luxury sector.
Zeekr, a subsidiary of Geely, has built a reputation for high-tech features and sleek designs. Its Zeekr 001 model has been well received in China and abroad, with a focus on tech-savvy consumers looking for cutting-edge electric vehicles. — China Daily/ANN
