China’s retail sales of all passenger cars saw a significant increase in the November 1-17 period, totaling 1.11 million units. This marked a 30 percent rise from the previous year and a 3 percent increase from the previous month. The data, released by the China Passenger Car Association (CPCA), revealed that retail sales of passenger new energy vehicles (NEVs) in China during the same period reached 581,000 units, showing a 66 percent surge from the same period last year and a 7 percent growth from the previous month.
Cumulatively, retail sales of passenger NEVs in China for the year so far amounted to 8.91 million units, reflecting a 41 percent increase from the same period last year. Meanwhile, wholesale sales of China’s passenger NEVs from November 1-17 reached 654,000 units, showing a 71 percent rise from the same period last year and a 20 percent increase from the previous month.
The cumulative wholesale sales of China’s passenger NEVs for the year stood at 9.93 million units, indicating a 38 percent increase from the same period last year. Overall, retail sales of all passenger vehicles in China for the November 1-17 period reached 1.11 million units, a 30 percent increase from the previous year and a 3 percent growth from the previous month.
The year-to-date cumulative retail sales of all passenger vehicles in China totaled 18.94 million units, reflecting a 5 percent year-on-year increase. Notably, China’s NEV penetration in retail stood at 52.53 percent for the November 1-17 period and at 47.03 percent year-to-date.
During the first week of November (November 1-10), China saw an average daily passenger car retail sales of 56,700, marking a 29 percent increase year-on-year but a 3 percent decrease from the previous month. In the second week of November (November 11-17), average daily retail sales of passenger cars in China reached 77,055, up 31 percent year-on-year and 10 percent from the previous month.
For the November 1-17 period, China’s wholesale sales of all passenger cars reached 1.27 million units, a 37 percent increase year-on-year and a 22 percent growth from the previous month. The average daily wholesale sales of passenger cars in China during this period were 66,737 from November 1-10, showing a 41 percent increase year-on-year and a 45 percent rise from the previous month. From November 11-17, the average daily wholesale sales of passenger cars in China reached 86,271, up 34 percent year-on-year and 4 percent from the previous month.
The cumulative year-to-date wholesale sales of passenger cars in China totaled 22.45 million units, reflecting a 6 percent increase year-on-year. This data showcases the continuous growth and strong performance of the passenger car market in China, particularly in the NEV segment.
