China’s passenger new energy vehicle (NEV) retail sales in China saw a significant increase in the November 1-24 period, with a total of 867,000 units sold. This marks a 68 percent increase from the same period last year and a 7 percent increase from the previous month.
Data released by the China Passenger Car Association (CPCA) revealed that cumulative retail sales of passenger NEVs in China for the year so far have reached 9.2 million units, showing a 42 percent increase from the same period last year.
Wholesale sales of China’s passenger NEVs from November 1-24 also saw a notable rise, with 1.007 million units sold. This represents a 65 percent increase from the same period last year and a 13 percent increase from the previous month. Cumulative wholesale sales of China’s passenger NEVs for the year so far totaled 10.29 million units, marking a 39 percent increase from the same period last year.
In the same period, China’s retail sales of all passenger vehicles reached 1,638,000 units, showing a 29 percent increase from the same period last year and a 4 percent increase from the previous month. Cumulative retail sales of all passenger vehicles in China for the year so far totaled 19.47 million units, reflecting a 5 percent year-on-year increase.
The data also revealed that China’s NEV penetration at retail stood at 52.93 percent from November 1-24 and 47.21 percent year-to-date.
The average daily passenger car retail sales in China for the first week of November (November 1-10) were 56,700, marking a 29 percent year-on-year increase but a 3 percent decrease from the same period in October. In the second week of November (November 11-17), average daily retail sales of passenger cars in China were 77,055, showing a 31 percent year-on-year increase and a 10 percent increase from October. For the third week of November (November 18-24), average daily retail sales of passenger cars in China were 76,002, marking a 26 percent year-on-year increase and a 6 percent increase from October.
Wholesale sales of all passenger cars in China for November 1-24 reached 1,935,000 units, showing a 34 percent year-on-year increase and a 14 percent increase from the previous month. Cumulative year-to-date wholesale sales of passenger cars in China totaled 23.11 million units, reflecting a 6 percent year-on-year increase.
Overall, the data highlights the strong performance of the NEV market in China, with significant growth in both retail and wholesale sales of passenger NEVs. The continuous rise in sales figures indicates a growing demand for new energy vehicles in the country.
