China’s November wholesale sales of passenger NEVs are estimated at 940,000 units, up 29 percent year-on-year and up 6 percent from October, the CPCA said.
China’s wholesale sales of new energy vehicles (NEVs), including exports, are expected to reach a new high in November, according to the China Passenger Car Association (CPCA).
November wholesale sales of passenger NEVs are estimated at 940,000 units, up 29 percent from a year earlier and up 6 percent from October, the CPCA said in a report today.
In October, 17 manufacturers with wholesale sales of more than 10,000 units of passenger NEVs contributed 88.8 percent of all wholesale sales, the CPCA said.
The estimated sales of these carmakers in November were 840,000 units, and according to the normal structure, China’s November wholesale sales of passenger NEVs could be at 940,000 units, the CPCA said.
Preliminary estimates show that in the January-November period, China’s passenger NEV wholesale sales were 7.74 million units, up 35 percent year-on-year, according to the report.
In China, NEVs include battery electric vehicles, plug-in hybrids and fuel-cell vehicles. Their breakdown figures are expected to be released later this month.
In November, new model launches and price concessions bolstered the overall NEV market, the CPCA noted.
China’s auto market is expected to remain relatively buoyant in November, but the performance during the “Double 11” shopping festival was mediocre, demonstrating a relatively cold demand, the CPCA said.
At the end of last year, the CPCA projected that China’s passenger NEV sales would be 8.5 million units in 2023, contributing 36 percent of the 23.5 million passenger cars that are expected to be sold this year.
The current state of China’s passenger NEV market is largely in line with that forecast, and the recent state of the market is slightly better than last year’s forecast, the report said.
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