eastwest connect

NIO ET5 sales volume surpassed that of BMW 3 Series in Suzhou | The penetration rate of electric vehicles in first-tier cities will exceed 50%


According to auto blogger, Zheng Yi, NIO recently released a poster showing that the sales volume of NIO ET5 surpassed that of BMW 3 Series in the Suzhou market.

The sales statistics time is from December 26, 2022 to March 5, 2023. Although the qualifier “Suzhou market” has been added, it can also show that NIO has achieved a phased victory.

Instead of total victory, China is so big, what’s the point of high sales volume in a city?

What’s more, the sales volume of NIO ET5 in Suzhou City exceeds that of BMW 3 Series, and it is not just NIO is growing. But in many first-tier cities in China, and some second-tier cities, the penetration rate of new energy vehicles has exceeded 40%, approaching 50%.

From the top 10 sales figures in the domestic new energy vehicle market in 2022, it can be seen that the penetration rate of new energy vehicles in the three cities of Shanghai, Hangzhou, and Shenzhen will soon approach 50%. This year it is estimated that it will definitely exceed 50%. That is to say, more than half of the new cars on the road are new energy vehicles. Especially in Shanghai, the sales of new energy vehicles reached 330,000 last year, and the sales of new energy vehicles in Hangzhou and Shenzhen also exceeded 200,000.

The levels of Guangzhou, Chengdu, Beijing, and Suzhou are similar, and it is estimated that this year it will exceed 40% or approach 50%.

2022 Top Ten Sales of New Energy Vehicles in Domestic Cities


Ranking City Sales volume of new energy vehicles (units) Total sales of cars in cities (units) Penetration rate of new energy vehicles
1 Shanghai 332,400 694,900 47.84%
2 Hangzhou 213,000 482,800 44.12%
3 Shenzhen 211,500 439,900 48.09%
4 Guangzhou 173,400 505,200 34.33%
5 Chengdu 164,100 508,900 32.25%
6 Beijing 158,200 514,900 30.73%
7 Suzhou 117,600 391,500 30.04%
8 Chongqing 114,500 388,100 29.51%
9 Zhengzhou 108,700 369,400 29.42%
10 Tianjin 105,100 327,800 32.08%

Of course, the high penetration rate of new energy vehicles is due to policy reasons on the one hand, and there are license restrictions in some cities.
On the other hand, in these cities, there are more young consumers with high education and interest in new things. New energy vehicles with better performance and higher intelligence are more likely to be accepted by these young consumers.

Moreover, in these super first-tier cities or first-tier cities, the overall income level of these young consumers is relatively high, and their purchasing power is also stronger. Therefore, we believe that in these cities, the sales volume and penetration rate of new energy vehicles are relatively high, which is in line with actual situation. That is to say, it is not that NIO’s sales in Suzhou are high, but that all new energy vehicles have relatively high sales in Suzhou.

In the future, it will be the general trend for new energy vehicles to replace fuel vehicles. It is believed that after Suzhou, the sales of NIO ET5 in other first-tier cities will gradually exceed that of BMW 3 Series.