China Auto Trending Hashtag| BYD NEV sales up 53.8% in May

BYD's sales of new energy vehicles increased by 53.8% in May, and fuel vehicle sales nearly fell by half.

Recently, BYD announced that it has accumulated 189,337 vehicles from January to May, a year-on-year increase of 1.29%. Among them, the sales volume of new energy vehicles in May was 21,899 units, an increase of 53.8% year-on-year. From January to May, the cumulative sales volume was 119,082 units, a substantial increase of 106% year-on-year.

While the new energy vehicles are growing across the board, the sales of fuel vehicles have shown a general downward trend. From January to May, the cumulative sales volume was 30,755 units, down 55.4% year-on-year. Among them, the cumulative sales volume of cars from January to May was 16,512 units, down 47.8% year-on-year; the cumulative sales of SUVs from January to May was 22,988 units, down 19.5% year-on-year; MPV sales from January to May were 30,755 units. It fell 55.4% year-on-year. New energy models have become the main driver of BYD's sales growth.

Great Wall Motor's sales in January-May exceeded 430,000 units

Great Wall Motor sold a total of 62,559 new cars in May; cumulative sales from January to May have exceeded 430,000, an increase of 5.11%. It is worth mentioning that Great Wall Motor also performed well in overseas markets. In the first five months, a total of 23,594 new cars were exported, a year-on-year increase of 19.4%.

Genesis establishes sales company in China

According to the data, Hyundai Motor has officially established the Genesis brand sales company in China. The company is wholly-owned by Hyundai Motor Company. It was established on October 25, 2018 with a registered capital of 50 million US dollars. According to the trademark registered by Hyundai Motor for the Genesis brand, SUVs, luxury cars and sports cars will be introduced in China in the future.

It is understood that Hyundai Motor plans to establish a dealer network before launching the Genesis brand in the Chinese market, and will initially export Genesis cars produced by Korean factories to China. In the future, it may consider producing Genesis cars in Chinese factories to avoid importing automobile tariffs. At present, Genesis has entered overseas markets such as the United States, Canada, Russia and the Middle East.