- China’s NEV retail penetration rate stood at 61.3 percent during November 1-23, and 53.28 percent year-to-date.
- Earlier this month, the CPCA projected China’s November NEV retail sales at about 1.35 million units, with a penetration rate of around 60 percent.
China’s passenger new energy vehicle (NEV) retail sales have shown a modest year-on-year increase this month amid overall market weakness.
From November 1-23, China’s passenger NEV retail sales came in at 849,000 units, up 3 percent year-on-year and up 8 percent month-on-month, according to data released today by the China Passenger Car Association (CPCA).
Year-to-date, China’s cumulative passenger NEV retail sales reached 11 million units, up 20 percent year-on-year.
Wholesale sales of China’s passenger NEVs from November 1-23 totaled 995,000 units, a 4 percent increase year-on-year and a 13 percent rise month-on-month.
Year-to-date, China’s cumulative passenger NEV wholesale sales reached 13.05 million units, up 27 percent year-on-year.
From November 1 to 23, China’s total passenger vehicle retail sales reached 1.384 million units, down 11 percent year-on-year and down 2 percent month-on-month.
Year-to-date, China’s total passenger vehicle retail sales reached 20.64 million units, a 6 percent increase compared to the same period last year.
This indicates that the retail penetration rate of NEVs in China was 61.3 percent from November 1-23 and 53.28 percent year-to-date.
Earlier this month, the CPCA projected in a report that China’s NEV retail sales for November would reach about 1.35 million units, accounting for roughly 60 percent of total passenger vehicle retail sales of 2.25 million units.
During the first week of November, November 1-9, China’s daily average passenger vehicle retail sales stood at 46,056 units, down 19 percent year-on-year and down 4 percent month-on-month.
In the second week of November, November 10-16, daily average passenger vehicle retail sales reached 67,312 units, down 9 percent year-on-year and down 7 percent month-on-month.
During the third week of November, November 17-23, China’s daily average retail sales of passenger vehicles reached 71,131 units, down 7 percent year-on-year but up 7 percent compared to the same period last month.
From November 1-23, China’s total wholesale sales of all passenger vehicles were 1.69 million units, down 8 percent year-on-year but up 8 percent compared to the same period last month.
From November 1-9, China’s average daily wholesale sales of passenger vehicles were 52,020 units, down 22 percent year-on-year but up 48 percent month-on-month.
From November 10-16, China’s average daily wholesale sales of passenger vehicles were 78,961 units, down 5 percent year-on-year and down 4 percent month-on-month.
From November 17-23, China’s daily average wholesale sales of passenger vehicles reached 95,656 units, a 2 percent year-on-year increase and unchanged from the same period last month.
Year-to-date wholesale sales of passenger vehicles in China have reached 25.46 million units, an 11 percent increase compared to the same period last year.
