China’s automotive industry in December has shown promising growth, with retail sales of all passenger vehicles reaching 502,000 units from December 1-8, marking an 11 percent increase from the previous month. This data, released by the China Passenger Car Association (CPCA), indicates a positive trend in the market.
Notably, the retail sales of new energy vehicles (NEVs) in China saw a slight increase compared to November. During the same period, passenger NEV retail sales totaled 255,000 units, reflecting a 3 percent growth from the previous month and a 72 percent surge from the same period last year. The cumulative retail sales of passenger NEVs in China for the year have reached 9.85 million units, showcasing a significant 42 percent year-on-year increase.
In terms of wholesale figures, China’s passenger NEV sales from December 1-8 stood at 280,000 units, up by 78 percent compared to the same period last year. The cumulative wholesale sales of passenger NEVs in China for the year have reached 11 million units, demonstrating a 39 percent increase from the previous year.
Overall, the retail sales of all passenger vehicles in China during the first week of December totaled 502,000 units, representing a 32 percent increase from the same period last year. The cumulative retail sales of all passenger vehicles in China for the year have reached 20.76 million units, showing a 5 percent year-on-year increase.
The data also reveals that China’s NEV penetration at retail was 50.80 percent during December 1-8 and 47.45 percent year-to-date. The average daily retail sales of passenger cars in China during this period were 62,730 units, indicating a steady demand in the market.
Wholesale sales of all passenger cars in China from December 1-8 were 565,000 units, up by 55 percent year-on-year. The average daily wholesale sales of passenger cars in China during this period were 70,600 units, showcasing a robust performance in the wholesale market.
In conclusion, China’s automotive industry continues to show resilience and growth, with NEVs playing a significant role in driving sales. The data reflects a positive outlook for the market, with both retail and wholesale figures indicating a strong performance in December.
