China’s retail penetration of new energy vehicles (NEVs) reached 52.2 percent in November, marking a significant increase from the previous month. According to preliminary data released by the China Passenger Car Association (CPCA), retail sales of passenger NEVs in China exceeded 1 million units for the fourth consecutive month, totaling 1.277 million units in November.
Compared to the same period last year, retail sales of passenger NEVs were up by 52 percent, while they saw a 7 percent increase from October. Cumulatively, China’s retail sales of passenger NEVs for the year reached 9.61 million units, reflecting a 41 percent year-on-year growth.
Similarly, wholesale sales of passenger NEVs in November also experienced a significant increase, with 1.467 million units sold, up 53 percent from the previous year and 6 percent from October. Year-to-date wholesale sales of passenger NEVs in China totaled 10.75 million units, showing a 39 percent increase from last year.
In terms of overall passenger vehicle sales in China, November saw a total of 2.45 million units sold, marking an 18 percent increase from the same period last year and an 8 percent increase from October. Cumulative retail sales of all passenger vehicles in China for the year reached 20.28 million units, reflecting a 5 percent year-on-year growth.
The data indicates that China’s NEV penetration at retail stood at 52.2 percent in November and 47.36 percent year-to-date. The month of November also witnessed fluctuations in average daily retail and wholesale sales of passenger cars in China, with notable increases compared to the previous year and month.
Overall, the NEV market in China continues to show strong growth and consumer interest, with both retail and wholesale sales reaching record highs in November. As the country’s automotive industry shifts towards sustainable and eco-friendly transportation solutions, the demand for NEVs is expected to continue rising in the coming years.
