43% Plugin Vehicle Market Share In China March 2024 Sales Report [Video]

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Plugin vehicles are all the rage in the Chinese auto market, with plugins scoring 743,000 sales (in a 1.7-million-unit overall market). That’s up 29% year over year (YoY).

Looking deeper at the numbers, BEVs were up 16%, while PHEVs did even better, jumping 62% in March. Breaking down plugin sales by powertrain, BEVs had 64% of sales, below this year’s average of 67%, proving the rising popularity of plugin hybrids in this market.

The year-to-date (YTD) tally is close to 1.9 million units, with Q1 ending with 36% growth YoY.

Share-wise, March saw plugin vehicles hit 43% market share! Full electrics (BEVs) alone accounted for 28% of the country’s auto sales. This pulled the 2024 share also to 39% (26% BEV), and with rumours that April will be the first month ever to reach the 50% mark, the first half of the year …