China’s new energy vehicle (NEV) retail sales saw a significant increase in June, reaching the highest figure of the year so far. According to data released by the China Passenger Car Association (CPCA), passenger NEV retail sales totaled 1.111 million units in June, marking a 29.7 percent year-on-year growth and an 8.2 percent sequential increase.
The growth was primarily driven by battery electric vehicles (BEVs), which accounted for 661,000 units in June, up 33.1 percent year-on-year and contributing 59.5 percent of NEV sales. This figure surpasses the initial estimates and highlights the strong demand for electric vehicles in the Chinese market.
Plug-in hybrid electric vehicles (PHEVs) also saw a notable increase in retail sales, with 334,000 units sold in June, representing a 32.4 percent year-on-year growth. Extended-range electric vehicles (EREVs) accounted for 10.4 percent of NEV retail sales, with 116,000 units sold.
Overall, PHEVs and EREVs combined for 450,000 units sold in June, marking a 23.7 percent year-on-year increase. The total passenger vehicle sales in China, including sedans, SUVs, and MPVs, reached 2.084 million units in June, up 18.1 percent year-on-year.
The penetration rate of NEVs in retail sales reached 53.3 percent in June, reflecting a growing trend towards electric vehicles in the market. Domestic brands led the way with a penetration rate of 75.4 percent, followed by luxury brands at 30.3 percent and mainstream joint-venture brands at 5.3 percent.
Wholesale sales of passenger NEVs in June totaled 1.241 million units, up 27.0 percent year-on-year. The penetration rate of NEVs in wholesale sales was 49.8 percent, indicating a strong demand for electric vehicles in the market.
In terms of exports, 198,000 passenger NEVs were shipped from China in June, marking a 116.6 percent year-on-year increase. BEVs accounted for 63 percent of NEV exports, with A0-class and A00-class BEVs making up 49 percent of the total exports.
Overall, the growth in NEV retail sales in China in June highlights the increasing popularity of electric vehicles in the market and the continued shift towards sustainable transportation options.
