China witnessed a surge in new energy vehicle (NEV) retail sales during the first half of June, with a total of 402,000 passenger NEVs sold from June 1 to 15. This marked a substantial 38 percent year-on-year increase, maintaining the same level as the previous month. The China Passenger Car Association (CPCA) reported that the cumulative retail sales of passenger NEVs in China reached 4.76 million units year-to-date, reflecting a 35 percent year-on-year growth.
In terms of wholesale sales, China saw 369,000 passenger NEVs sold from June 1 to 15, representing an 18 percent year-on-year increase. However, this figure was 2 percent lower than the previous month. The cumulative wholesale sales of passenger NEVs in China reached 5.576 million units year-to-date, showing a significant 38 percent year-on-year growth.
Overall, China’s total retail sales of passenger vehicles reached 706,000 units from June 1 to 15, marking a 20 percent year-on-year increase. However, this figure was down by 9 percent compared to the previous month. The cumulative retail sales of all passenger vehicles in China reached 9.522 million units year-to-date, reflecting a 10 percent year-on-year growth.
The penetration rate of NEVs in retail sales stood at 57 percent from June 1 to 15, and 49.98 percent year-to-date, indicating a growing preference for electric vehicles among consumers. In the first week of June (June 1-8), the average daily retail sales of passenger vehicles in China were 42,102 units, showing a 17 percent year-on-year increase. The second week of June (June 9-15) saw an average daily retail sales volume of 52,694 units, marking a 23 percent year-on-year growth.
On the wholesale front, China’s total wholesale sales of passenger vehicles reached 714,000 units from June 1 to 15, reflecting a 24 percent year-on-year increase and a 4 percent month-on-month growth. The average daily wholesale sales volume of passenger vehicles in China was 38,836 units from June 1 to 8, and 57,683 units from June 9 to 15, showing significant year-on-year and month-on-month increases.
Overall, China’s automotive market continues to show resilience and growth, with NEVs playing an increasingly prominent role in driving sales and shaping consumer preferences. As the country continues to prioritize sustainability and innovation in the automotive sector, the future looks promising for the electric vehicle industry in China.
