The popularity of new energy vehicles is soaring, and the market position of fuel vehicles is in jeopardy

News on April 28 showed that in China’s first-tier cities, the influence of fuel vehicles is gradually weakening, while new energy vehicles are gradually occupying the top of the best-selling model rankings. At the same time, in second- and third-tier cities, although charging facilities are not yet complete, fuel vehicles still face fierce market competition.

According to the latest data, in the first quarter of 2024, new energy models accounted for six of the top 10 best-selling models in China’s first-tier cities, and the top five were all occupied by new energy models. These models include Tesla Model Y, AIWAYS ITO Q&A M7, BYD Qin PLUS, GAC AION S and BYD Song PLUS. While traditional fuel models, such as Nissan Sylphy, Volkswagen Lavida, Volkswagen Passat, etc., although they still have a place on the list, they rank relatively low. This trend shows that consumers’ demand for new energy vehicles is gradually increasing and their attention to traditional fuel vehicles has declined.

In new first-tier cities, the situation is similar. New energy models such as Tesla Model Y, BYD Qin PLUS, AITO Q&A M7 and BYD Song PLUS occupy the top four among the top 10 best-selling models. Fuel-burning models such as the Volkswagen Tiguan and Nissan Sylphy are at the back.

In second-tier cities, new energy vehicles and fuel vehicles each account for five seats in the TOP 10 best-selling models, showing that the competition between the two types of cars in the market is becoming increasingly fierce. However, new energy models such as Tesla Model Y and BYD Qin PLUS are still at the forefront.

Regarding third-tier cities and below, due to restrictions on charging facilities and other conditions, fuel vehicles still have certain market advantages. However, with the continuous advancement of new energy vehicle technology and the increasing improvement of charging facilities, the sales of new energy vehicles in these cities are gradually increasing.

Judging from the latest sales data, the influence of new energy vehicles in the Chinese market is gradually expanding, while fuel vehicles are facing increasing market competition pressure. In the future, with the further development and popularization of new energy vehicle technology, this trend is expected to become more obvious.

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