China’s automotive market continues to show strong growth, with retail sales of all passenger vehicles reaching 1,083,000 units in the first half of December. This marks a 14 percent increase from the previous month, indicating a positive trend in consumer demand for cars in the country.
In particular, the retail sales of passenger new energy vehicles (NEVs) saw a significant surge, totaling 536,000 units during the same period. This represents a 71 percent increase from last year and a 6 percent increase from the previous month. The China Passenger Car Association (CPCA) released data highlighting the growing popularity of NEVs among Chinese consumers.
Cumulatively, retail sales of passenger NEVs in China have reached 10.13 million units so far this year, showing a robust 43 percent growth compared to the same period last year. Wholesale sales of passenger NEVs also saw a substantial increase, with 580,000 units sold in the first half of December, up 68 percent from last year.
Overall, China’s automotive market is thriving, with retail sales of all passenger vehicles showing a 34 percent year-on-year increase and a 14 percent month-on-month increase. Cumulative retail sales of all passenger vehicles in China have reached 21.34 million units so far this year, indicating a 6 percent growth compared to last year.
The data also reveals that China’s NEV penetration at retail stood at 49.49 percent in the first half of December and 47.47 percent year-to-date, highlighting the growing popularity of electric vehicles in the country. Average daily retail sales of passenger cars in China increased by 32 percent year-on-year in the first week of December and by 36 percent in the second week.
Wholesale sales of all passenger cars in China reached 1,138,000 units in the first half of December, showing a 39 percent year-on-year increase. Cumulative year-to-date wholesale sales of Chinese passenger cars have totaled 25.25 million units, up 7 percent compared to last year.
Overall, the Chinese automotive market is witnessing strong growth in both retail and wholesale sales, with NEVs playing a significant role in driving this growth. The data released by the CPCA underscores the increasing demand for electric vehicles in China and highlights the country’s position as a key player in the global automotive industry.
