According to the data released by the Passenger Car Market Information Association on 14th, in January 2022, the wholesale sales of new energy passenger cars reached 412,000, up 141.4% year-on-year.

According to the Association, in January 2022, the retail sales of domestic passenger car market reached 2.092 million, down 4.4% year-on-year and 0.6% month-on-month. It is estimated that about 15% of production and sales losses will be caused by factors such as production shutdown before the Spring Festival holiday and consumers buying cars early. Therefore, the overall trend of retail sales in January is very good after the month-on-month and year-on-year performance conversion.

During the Spring Festival of 2022, the number of passengers sent nationwide increased by over 40% year on year. Large-scale residents returning to their hometowns have formed certain support for car purchase consumption in some central and western provinces, counties and towns, and the increase of sales promotion before the holiday has also boosted the tide of returning home to buy cars. With the gradual strengthening of production and wholesale sales in the past few months, the overall market supply has shown a warming trend, and manufacturers are actively welcoming the 'good start' of the new year, which has brought about the sustained strength of retail sales. Moreover, with the arrival of the pre-holiday sales season, in January, dealers significantly increased the terminal discount, and the sales enthusiasm was rapidly improved, thus achieving a stronger terminal retail.

Among them, new energy vehicles have maintained a high-speed growth year-on-year. Data show that in January, the wholesale sales of new energy passenger cars reached 412,000, up 141.4% year-on-year, and the retail sales of new energy passenger cars reached 347,000, up 132% year-on-year.

In January 2022, there were 11 enterprises whose wholesale sales of new energy vehicles exceeded 10,000, a substantial increase of 6 compared with the same period, of which BYD exceeded 93,000, followed by Tesla China reaching nearly 60,000. Among the mainstream joint venture brands, North-South Volkswagen wholesale more than 13,000 new energy vehicles, accounting for 59% of the mainstream joint venture brand product market.

According to the Association, before the Spring Festival, the trend of new energy vehicles and traditional fuel vehicles formed the characteristics of synchronous strength. Before the Spring Festival, there was a strong demand for the first purchase of entry-level consumption and the replacement of traditional vehicles, coupled with the strong growth of new energy vehicles, which promoted the overall retail growth of new energy passenger car market. Due to the influence of centralized delivery at the end of 2021, the sales performance was weak in the first week of January 2022, but it picked up obviously in the second and third weeks.

In January, independent brands continued to grow, with retail sales reaching 940,000 vehicles, up 11% year-on-year and 1% quarter-on-quarter, and the retail market share was 45.5%, up 6.4 percentage points year-on-year. At the same time, 169,000 passenger cars were exported, up 91% year-on-year, 107,000 self-owned brands were exported, up 56% year-on-year, and new energy vehicles accounted for 30% of the total exports.

For the future automobile market, the Association said that with the decline of new energy subsidies and the rise of raw material prices, the slight adjustment of the prices of some models in the early stage brought about a brief downturn in orders, the price acceptance of new energy vehicles recovered after the Spring Festival, and many new energy vehicles still had a backlog of undelivered orders in the early stage, so the sales of new energy vehicles in February will not be significantly affected by the decline.